Insurance Broker Says 3 Former Execs Stole Trade Secrets

Law360, New York (August 25, 2014, 5:59 PM EDT) -- Insurance brokerage Arthur J. Gallagher & Co. sued three former marine insurance executives in New York federal court Monday, claiming the trio plotted to steal proprietary information and lure lucrative clients to rival brokerage Howden Insurance Services Inc.

Gallagher says John Betz — the president of the company's New York-area marine insurance unit — and subordinates Christopher Maro and Kenneth Fichtelman jumped ship to Howden with clients that generated $2.7 million for AJG last year, breaching their employment contracts and misappropriating trade secrets in the process.

“It was anticipated that the business would generate $2.7 million in revenue in 2014 as...

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