Reinsurance Broker Owes Damages For Breach Of Contract, Judge Concludes

Reinsurance Broker Owes Damages For Breach Of Contract, Judge Concludes

CHICAGO - A reinsurance broker owes $744,402.06 to the parent company of an insurer under a revenue-sharing agreement, an Illinois federal judge ruled March 29, finding that the broker breached its contract by failing to hand over some of the commissions money (Homeowners Choice Inc. v. Aon Benfield Inc., No. 10-7700, N.D. Ill.; 2013 U.S. Dist. LEXIS 45938).

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