Hemispheric Re Permitted to Add Punitive Damages Counterclaim Against Howden in Reinsurance Commissions Action

MIAMI — A Florida state judge has allowed Hemispheric Reinsurance Group to amend its counterclaims against Howden Insurance Brokers to seek punitive damages in a suit accusing both brokers of overcharging a Costa Rican insurer reinsurance commissions.

In a one-page handwritten order issued Oct. 9, Judge Beth Bloom of the Miami-Dade County Circuit Court granted HRG leave to add the punitive damages claim. HRG asserts Howden improperly padded its quotations to HRG and withheld more than its fair share of commissions and tax allowances it received from reinsurers.

INS, a Costa Rican state-owned insurer, provides property damage and business interruption …