An Oregon insurance brokerage firm that serves senior living facilities is suing some former employees for allegedly moving existing partners’ insurance policies into captives for clients and then skimming the funds for personal use.
AssuredPartners of Oregon, doing business as Alliance Insurance Group and Alliance Senior Living, filed a lawsuit May 10 in the U.S. District Court in Eugene, OR, with G. Scott Reese, Susan Reese, Carl Swan and Alex Whipple named as defendants.
“Mr. Reese, Mr. Swan and Mr. Whipple had been working as producers for AP, specializing in providing insurance products and services to senior living facilities, while Ms. Reese had worked as a senior account executive, performing essential support functions to the three men,” Business Insurance reported.
According to court records, charges against the defendants include civil conspiracy, breach of fiduciary duties, breach of contract, violation of the Defend Trade Secrets Act, misappropriation of trade secrets, tortious interference with existing and prospective business relations and unjust enrichment. The alleged theft generated hundreds of thousands of premiums to the defendants, the lawsuit alleges
May 18, the court granted AssuredPartners a preliminary injunction requiring the defendants to turn over all documents, material and data relating to AP’s business. The defendants are also prohibited from using or disclosing confidential information to any third party in the future.
The company had no comment on the case.
