Ex-Agent Sues Allstate For $15M Over Agency Takeover

Law360, New York (July 2, 2012, 3:14 PM EDT) -- A former Allstate Corp. insurance agent on Friday slapped the insurance giant with a $15 million breach of contract and fraud lawsuit, alleging the company methodically severed its yearslong relationship with him in order to redirect his business to a newer, younger agent.

Allstate was behind a “hostile takeover” of plaintiff Larry Stevens’ client base, which began when the company in 1999 terminated its employment contracts with all its agents, Stevens alleged in his complaint.

“Allstate publicly stated that this move was designed to ‘re-energize’ its...
To view the full article, register now.