The Costa Rica News (TCRN) – Under the leadership of Guillermo Constenla, the Instituto Nacional de Seguros (INS) recklessly cost Costa Rica’s tax-payers in excess of $4 million in legal fees in it’s failed crusade to sue Miami-based,
Hemispheric Reinsurance Group (HRG), and London-based reinsurance broker, Howden Insurance Brokers, Ltd. in the United States on questionable legal theories in relation to the broker’s placement of reinsurance for the INS on their insurance policy covering the assets of the Instituto Costarricense de Electricidad (ICE), the largest single entity in the Country.
In addition to losing it’s lawsuit against HRG and Howden, Dade Circuit Court Judge ordered INS to pay damages in excess $990,000 including interest to Hemispheric Reinsurance Group (HRG) for breaching INS’ contract with HRG.
Guillermo Constenla refused to accept a reasonable settlement offer from Hemispheric Reinsurance Group (HRG) and Howden, requiring further litigation and incurring unnecessary legal fees on INS’s part as well as on HRG and Howden’s part to defend themselves.
Many believe that Costa Rica’s Instituto Nacional de Seguros (INS) abused their power as a government entity and prematurely breached their contract with the Hemispheric Reinsurance Group (HRG) and Howden Insurance Brokers Ltd., by failing to pay them as agreed, in spite of the fact that HRG and Howden complied fully with their contractual obligations.
On July 8, 2009 Hemispheric Reinsurance Group (HRG) appealed INS’ decision to improperly terminate contract,
which INS ignored, in violation of Costa Rican Law.
The INS used the unpaid contractual portion of the monies due HRG and Howden, to hire Chicago-based Willis Re
only to complete the remaining payment obligations to reinsurers as per the contract, in spite of the fact that Willis Re was not involved in the reinsurance placement, and they paid Willis Re HRG and Howden’s remaining commission.
Almost three years to the date from INS’s initiation of suit against HRG and Howden, attorney, Robert Newton Harris of Miami based Harris Law Firm Group, P.A., successfully won the case for Hemispheric Reinsurance Group in a landmark victory against the Costa Rican government’s Instituto Nacional de Seguros (INS), represented by the major International New York law firm, Hogan Lovells.
The Costa Rica News (TCRN)
San Jose, Costa Rica