CHICAGO—DiCello Levitt on Tuesday filed a class action lawsuit in the United States District Court for the District of Maryland on behalf of hundreds of insurance agency owners against Government Employees Insurance Company (GEICO) and GEICO Insurance Agency. In the lawsuit, the plaintiffs allege breach of contract in relation to policy renewal commissions as well as unjust enrichment by the insurance industry giants.
“While many of the plaintiffs invested their own money to build a valuable business relationship with GEICO, the defendants unjustly enriched themselves by defrauding our clients and breaching their contracts with them. At the same time, GEICO reported more than $1 billion in underwriting earnings for the third quarter of 2023,” said DiCello Levitt Founding Partner Adam Levitt.
The lawsuit details how the defendants unjustly retained customer premiums and commissions that belonged to the plaintiffs.
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