Insurer Didn't Breach Broker Services Pact: 2nd Circ.

Law360, New York (May 27, 2011, 5:32 PM EDT) -- The Second Circuit on Friday affirmed a $4.2 million judgment in favor of Royal Palm Insurance Co. in its bid to collect brokerage sharing from Guy Carpenter & Co. Inc. under a broker services agreement that the insurer prematurely terminated.

In upholding the trial court's grant of summary judgment in favor of Royal Palm, a three-judge panel rejected Guy Carpenter's argument that Royal Palm was liable for breaching the parties' broker services agreement regardless of whether Florida law allowed the insurer to terminate the broker relationship...
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