Reinsurance Brokers Awarded $3.1 Million in Attorneys’ Fees, Costs, Interest in Commissions Dispute

MIAMI — Following a jury’s determination that two reinsurance brokers did not unlawfully overcharge Instituto Nacional De Seguros (INS) for reinsurance commissions, a Florida state judge has awarded the brokers $3.1 million in attorneys’ fees, costs and prejudgment interest.

In a Jan. 5 final judgment, Judge Bronwyn C. Miller of the Miami-Dade County Circuit Court awarded Howden Insurance Brokers Ltd. and Hemispheric Reinsurance Group $2,456.131.10 in attorneys’ fees, $497,469.32 in taxable costs, $96,297 in expert fees, and $84,561.98 in prejudgment interest.

INS provides property damage and business interruption coverage to Instituto Costarricense de Electricidad (ICE), the Costa Rican state-owned telecommunications …