AssuredPartners files poaching suit against EPIC

An AssuredPartners Inc. unit earlier this month sued rival EPIC Insurance Brokers & Consultants and three former brokers for allegedly engaging in a scheme to poach clients.

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AssuredPartners of Missouri LLC said in the lawsuit, AssuredPartners of Missouri LLC v. Edgewood Partners Insurance Center Inc. et al. filed in federal court in St. Louis, that the book of business managed by the brokers exceeded $4.4 million and that on Dec. 17, it received a broker of record letter from a client saying it would be moving its business to EPIC. AssuredPartners also said some of its clients have been “uncharacteristically slow” in returning calls and emails from its brokers.

The St. Louis-based AssuredPartners unit said in the Dec. 20 lawsuit that it “anticipates that this is only Act One” of the former brokers’ attempts to solicit clients to EPIC and that court intervention is needed to “drop the curtain” on the alleged scheme by EPIC and former AssuredPartners brokers Rick Frechmann, Brad Snitzer and Joleen Mayfield.

AssuredPartners said it fired the brokers on Nov. 26 for taking confidential files and later learned that the brokers had devised a plan to simultaneously announce their resignations via social media on Dec. 2. EPIC announced their hirings on Dec. 3.

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According to AssuredPartners, each of the former brokers breached confidentiality and nonsolicitation agreements they signed during their employment. The brokerage seeks injunctive relief and compensatory and punitive damages.

Arthur J. Gallagher & Co. recently announced it has agreed to buy Orlando, Florida-based AssuredPartners in a $13.45 billion deal.

Representatives for the parties did not respond to requests for comment.