Judge Is On Nationwide's Side In Agent Contract Suit

Law360, New York (April 17, 2012, 12:02 PM EDT) -- Nationwide Mutual Insurance Co. did not breach its contractual duties to insurance agent contractors by forcing them to choose between receiving deferred compensation or selling non-Nationwide insurance products, a Texas federal judge ruled Monday.

U.S. District Judge Sam Sparks granted Nationwide’s bid to dismiss claims that it violated its implied duty of good faith and fair dealing to members of the Nationwide Insurance Independent Contractors Association Inc., a group of independent contractors who sell and market Nationwide’s products.

The suit applied to NIICA members who refused...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.