$1 Million Reinsurance Commissions Lawsuit Dismissed Without Prejudice

NEW YORK — A New York federal judge has dismissed without prejudice a lawsuit in which a reciprocal insurance exchange accuses Guy Carpenter & Company LLC of wrongfully deducting more than $1 million from a fiduciary account, ruling that it is not clear whether there is complete diversity of citizenship.

In a March 17 order, Judge Mary Kay Vyskocil of the U.S. District Court for the Southern District of New York explained that “the court must not assume that it has the power to hear this case,” adding that the Housing and Redevelopment Insurance Exchange (HARIE) may file a second …