Court Dismisses Two of Three Claims Involving Unpaid Brokerage Commission

“Guy Carpenter and Company, LLC (“Guy Carpenter”) is a reinsurance intermediary. Lockton RE, LP and Lockton Insurance Agency, Inc. (collectively “Lockton”) is a competitor. Two insurance companies were clients of Guy Carpenter and Guy Carpenter placed reinsurance contracts for them in exchange for a brokerage fee. The parties agreed that the brokerage fee would be paid by allowing Guy Carpenter to retain a percentage of the quarterly premium payments its clients made to the reinsurers. Eventually, the two insurers notified Guy Carpenter of their intent to use a different broker, Lockton. This allegedly occurred when a particular broker left Guy Carpenter for new employment with Lockton …” (The Insurance and Reinsurance Report, 10 November)

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