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Daily Insurance Industry News
Monday 20th of May 2019
March 6, 2008

Chaucer and Towergate settle poaching dispute out of court

by David Masters

Story link: Chaucer and Towergate settle poaching dispute out of court

Towergate and Chaucer have come to an out of court settlement after Chaucer poached Towergate’s competition car business.

Towergate filed a High Court case against Chaucer on 30th January claiming that Chaucer had poached its business after terminating its underwriting contract with them. In addition, Towergate claimed that ten former employees had violated the terms of their restrictive covenants.

In the case against Chaucer, Towergate accused the company of breach of contract, breach of confidence, and of dishonestly assisting breaches of fiduciary duties. The ten former employees – Mary Singleton, Phil Barnard, Neil Shepherd, Susannah Cattermole, Richard Egger, Steve Hallam, David Goves, Alison Richardson, Samantha Bartlett, and Sue Clancy – were accused of breaching fiduciary duties and restrictive covenants.

In a statement released yesterday, Towergate chairman Peter Cullum said that his company had reached an agreement with Chaucer and five of the staff.

Cullum 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.”

Chaucer also released a statement that said: “Chaucer is pleased to have reached a commercial resolution and that all issues have been satisfactorily resolved.”

 

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