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Article: Provident sued by terminated Paul Revere career agents.
- Article from:
- National Underwriter Life & Health-Financial Services Edition
- Article date:
- June 2, 1997
- Author:
CopyrightCOPYRIGHT 1997 Summit Business Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A class-action lawsuit has been filed on behalf of several hundred Paul Revere agents who allege they were unfairly dismissed when the company was acquired by Provident Cos. in April 1996.
Filed in the Superior Court of Massachusetts in Worcester last month, the suit alleges that the termination of employment is a direct violation of Worcester-based Paul Reveres "historic, repeated and legally-binding promise to the class to continue the Paul Revere career agency system."
"The class members will suffer the loss of all annual expense support and all employee benefits, the loss of all non-vested renewal
commissions and service allowances on their ...