tomloel /
26 May 2022Law & regulation

AssuredPartners files lawsuit in Oregon captive case

AssuredPartners (AP) has filed a lawsuit in Oregon and obtained a preliminary injunction against former employees whom, it charges, set up captives for clients, then skimmed off a portion of the premiums.

The brokerage said former employee Scott Reese and members of his team moved insurance policies of existing AP partners into an insurance captive, then diverted a large portion of the revenue generated to Reese’s own pocket, according to the lawsuit filed in US District Court in Eugene, Oregon, on May 10 in AssuredPartners of Oregon, LLC, d/b/a Alliance Insurance Group & Alliance Senior Living v. G. Scott Reese, Susan Reese, Carl Swan, Alex Whippel, & S&S Investments Management LLC.

Charges against the defendants include civil conspiracy, breach of fiduciary duties, breach of contract, violation of the Defend Trade Secrets Act, misappropriation of trade secrets, tortious interference with existing and prospective business relations and unjust enrichment.

On May 18, the court granted AssuredPartners a preliminary injunction calling for the defendants to turn over all documents, material and data relating to AP’s business, and refraining from using or disclosing confidential information to any third party, among other orders.

The defendants have denied any wrongdoing over their business dealings with AP.