Jury Backs $2.3 Million Award to Terminated Independent Agent; Nationwide to Challenge Verdict
East News • December 17, 2004
An eight person jury in the United States District Court in Connecticut awarded $2.3 million in compensatory damages to an independent insurance agent in a decision expected to have serious ...
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Subject: RE: nationwide / Sefton Comment
Posted On: December 18, 2004, 10:30 pm CST
Posted By: Lou Thyroff
Comment:
Good for Alex....more to come.
Sefton, your comment is very interesting to me. I would like to know more about the computer accounts and the managers being reprimanded.
"Company managers had removed business from Charts computer account without permission of the agent or clients and been reprimanded for it."
Please contact me at Lthyroff@aol.com or my cell at 585-202-9938
I was terminated on Sept 19, 2000. I was never told the reason for my termination although Nationwide managers told agents that I had committed a serious SEC violation.
Nationwide told the NASD about this a ledge "violation" and requested that they investigate. Six months later after the start of an exhausting NASD investigation, I received a "Letter of Caution" from the NASD. I received no termination no suspension and or fine.
I had eight employees and was in the top percentage for company profitability.
I started a "scratch" agency at age 26 in 1979 in Upstate NY. I had received almost every award an agent can receive including Presidents, Champion, CLC and 18 straight years as an Honor agent. I had 8600 policies in force. I never missed a loss ratio, growth and or persistency bonus. My last five year loss ratio was 46% for all lines. My persistency was 94 & 96% auto home. My bonus was $58,000 for 1999. Commission in excess of $500,000.
This is why I am interested in your comment...
On Sept 18, 2000 Nationwide's "new" manager called my office and requested that I attend a meeting the next day in Syracuse NY at 9:00am. She would not tell me the reason for the meeting. I left my home at 7:00am on 9-19-00 arrived at 8:45am. At my arrival, my staff called my cell phone to tell me that something is going wrong with the computers, "something they never seen." Unfortunately I did not answer their call. If I had I would have told them to pull the phone line from the jack thus stopping the upload. Nationwide uploaded all of the data and turned my computers useless in less than twenty five minutes. I lost everything. I had no hard copies and any form of backup other than tape backup that could be read only by the computer I lease from Nationwide Computer Services. Nationwide refused to give me my data, information and all my personal software. NATIONWIDE STOLE MY INFORMATION.
I was forced to retire. I had almost $700,000 in ASCP and Nationwide refused to pay me my ASCP stating I was competing. After four plus years October 16, 2004 a Federal Judge awarded me Summary Judgment against Nationwide for breach of contract.
After four years and spending well over hundred thousand dollars in legal fees, I just begun to receive my money.
Anyone who has information that could help me fight back for my stolen information would be helpful.
Thanks Lou Thyroff
Lthyroff@aol.com
585-202-9938
Subject: RE: nationwide / Sefton Comment
Sefton, your comment is very interesting to me. I would like to know more about the computer accounts and the managers being reprimanded.
"Company managers had removed business from Charts computer account without permission of the agent or clients and been reprimanded for it."
Please contact me at Lthyroff@aol.com or my cell at 585-202-9938
I was terminated on Sept 19, 2000. I was never told the reason for my termination although Nationwide managers told agents that I had committed a serious SEC violation.
Nationwide told the NASD about this a ledge "violation" and requested that they investigate. Six months later after the start of an exhausting NASD investigation, I received a "Letter of Caution" from the NASD. I received no termination no suspension and or fine.
I had eight employees and was in the top percentage for company profitability.
I started a "scratch" agency at age 26 in 1979 in Upstate NY. I had received almost every award an agent can receive including Presidents, Champion, CLC and 18 straight years as an Honor agent. I had 8600 policies in force. I never missed a loss ratio, growth and or persistency bonus. My last five year loss ratio was 46% for all lines. My persistency was 94 & 96% auto home. My bonus was $58,000 for 1999. Commission in excess of $500,000.
This is why I am interested in your comment...
On Sept 18, 2000 Nationwide's "new" manager called my office and requested that I attend a meeting the next day in Syracuse NY at 9:00am. She would not tell me the reason for the meeting. I left my home at 7:00am on 9-19-00 arrived at 8:45am. At my arrival, my staff called my cell phone to tell me that something is going wrong with the computers, "something they never seen." Unfortunately I did not answer their call. If I had I would have told them to pull the phone line from the jack thus stopping the upload. Nationwide uploaded all of the data and turned my computers useless in less than twenty five minutes. I lost everything. I had no hard copies and any form of backup other than tape backup that could be read only by the computer I lease from Nationwide Computer Services. Nationwide refused to give me my data, information and all my personal software. NATIONWIDE STOLE MY INFORMATION.
I was forced to retire. I had almost $700,000 in ASCP and Nationwide refused to pay me my ASCP stating I was competing. After four plus years October 16, 2004 a Federal Judge awarded me Summary Judgment against Nationwide for breach of contract.
After four years and spending well over hundred thousand dollars in legal fees, I just begun to receive my money.
Anyone who has information that could help me fight back for my stolen information would be helpful.
Thanks Lou Thyroff
Lthyroff@aol.com
585-202-9938