Fla. Judge Denies Brokers Summary Judgment in Reinsurance Commission Action

MIAMI — A Florida state judge has denied Hemispheric Reinsurance Group and Howden Insurance Brokers summary judgment on an insurer’s claims that they breached Florida law by intentionally overcharging it reinsurance commissions.

In a one-page order issued Oct. 7, Judge Beth Bloom of the Miami-Dade County (Fla.) Circuit Court denied HRG’s motion for summary judgment and Howden’s motion for partial summary judgment on the claims of negligence, breach of fiduciary duty and constructive trust.

Costa Rican state-owned insurer Instituto Nacional De Seguros provides property damage and business interruption coverage to Instituto Costarricense de Electricidad (ICE), the Costa Rican state-owned …