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Allstate Says Ameriprise Poached Employees, Trade Secrets

Law360, Chicago (August 10, 2017, 5:52 PM EDT) -- Allstate Insurance Co. and its life insurance affiliate sued Ameriprise Financial Services Inc. in Illinois federal court Thursday over allegations Ameriprise is poaching Allstate employees and encouraging them to bring trade secrets and confidential information with them.

Allstate says Ameriprise has hired several of its Exclusive Financial Specialists, who work with its agents to sell life insurance products, and used information about customers and Allstate’s business plans the specialists furnished to get Allstate Life Insurance Co. customers to switch to Ameriprise.

Allstate said Ameriprise knows the...
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