Insurance Agents Slap Nationwide With Contract Suit

Law360, New York (May 31, 2011, 2:01 PM EDT) -- An insurance agent group accused Nationwide Mutual Insurance Co. in Texas federal court on Friday of breaching agreements with the exclusive independent contractors who sell and market its products to impose compensation and policyholder servicing changes, among others.

For example, plaintiff Nationwide Insurance Independent Contractors Association Inc. argues, Nationwide is discriminating against agents who won't sign a 2010 agent choice addendum under which they would forfeit future accruals under a deferred compensation incentive credits program, a selling tool the insurer has used to attract agents that...
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