Guy Carpenter Moves to Dismiss $1 Million Reinsurance Commissions Lawsuit

HARRISBURG, Pa. — Reinsurance intermediary Guy Carpenter & Company LLC has moved to dismiss a lawsuit in which a reciprocal insurance exchange accuses it of wrongfully deducting more than $1 million from a fiduciary account.

In a May 28 motion filed before Judge Mary Kay Vyskocil of the U.S. District Court for the Southern District of New York, Guy Carpenter argues that Housing and Redevelopment Insurance Exchange (HARIE)’s claims fail because it was entitled to withdraw the funds from the account.

Specifically, Guy Carpenter argues that HARIE triggered Paragraph D of the parties’ broker services agreement (BSA) when it terminated …