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Business dispute between Insurance MGA and Insurance Carrier

In a lawsuit involving termination of a Managing General Agency agreement by an insurance carrier, Accumyn provided a review of the operating documents and transactions involved in a multi-state insurance program, and the impact of an insurance carriers untimely termination of the program had on commission income earnings by the MGA, insurance agency relationships that the MGA brought to the relationship, and profit contingency to be received by the MGA. In this ongoing case, Accumyn has made extensive calculations and projections of insurance account submission activity during a period following the termination of the agreement, which was done in violation of the written agreement and insurance codes of the states involved. Expert witness reports and rebuttal reports, along with testimony have been provided in this proceeding to date. The damages sustained by the MGA were for loss of commission income and profit sharing resulting from untimely termination of the agreement, and interference in business relationships the MGA had developed over many years.