Outgoing New York Attorney General Andrew Cuomo said yesterday four insurers — Zurich Financial Services, Ace Ltd., Pennsylvania Manufacturers’ Association Insurance and CNA Financial — agreed to pay almost $120 million to settle claims they collected too much in workers’ comp fees.

“These four insurance companies have done the responsible thing by agreeing to resolve their disputes with the state,” Cuomo said in a statement. “Other insurers who still retain excess funds should follow their lead.”

Under the settlements, the Ace companies agreed to pay $70 million, Zurich companies $37.5 million, the Pennsylvania Manufacturer $5.9 million and CNA $5.75 million.