An antitrust lawsuit filed against Guy Carpenter and reinsurers by the Connecticut Attorney General's Office is without merit, according to the brokerage as well as the industry's chief spokesperson, who say the allegations make no sense given the structure of the deals in question and the competitiveness of the market in general.
Attorney General Richard Blumenthal said in a statement on Oct. 8 that his office was suing “the world's largest reinsurance brokerage for anticompetitive practices that illegally inflated insurance costs” for insurers and consumers nationwide.
The complaint charged that a conspiracy went on for about 50 years, exploiting a group of some 170 insurers by withholding “critical information and leading them to believe that Guy Carpenter was acting in their best interests.”
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