Cullum proclaims integrity of the broker/insurer relationship has been restored
Towergate has reached an out of court settlement with Chaucer after the insurer poached the broker’s competition car business.
On 30 January Towergate Underwriting Group began a High Court case claiming that Chaucer had poached its business after terminating its underwriting contract with the broker. Towergate also claimed that ten former employees had broken the terms of their restrictive covenants.
Towergate subsequently accused the employees of breaching fiduciary duties and restrictive covenants, and Chaucer of breach of contract, breach of confidence, and dishonestly assisting breaches of fiduciary duties.
The employees were Richard Egger, Phil Barnard, Steve Hallam, Susannah Cattermole, David Goves, Mary Singleton, Alison Richardson, Samantha Bartlett, Neil Shepherd and Sue Clancy.
In a statement, Towergate chairman Peter Cullum said that an agreement had been reached with both Chaucer and five of the staff. He said: "We are pleased this matter has been resolved and that Chaucer has acknowledged their mistakes in respect of the employee contracts for the five staff involved.
"While we received damages and costs, this was not my main aim, which was to help restore the integrity of the broker/insurer relationship regarding customer contact."
In a statement, Chaucer said: "Chaucer is pleased to have reached a commercial resolution and that all issues have been satisfactorily resolved."
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