Charges by the Connecticut attorney general that reinsurance broker Guy Carpenter engaged in price fixing for 50 years make no sense given the structure of the deals in question, according to the insurance industry's chief spokesman.
The argument against allegations in an antitrust lawsuit filed Monday in State Superior Court in Hartford, Conn., by Attorney General Richard Blumenthal was made by Robert P. Hartwig, president of the Insurance Information Institute.
Mr. Hartwig questioned the concept behind an antitrust case stating that, "Guy Carpenter does not have any monopoly power--far from it. Antitrust implies that you basically exert pricing power over the market."
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