PHILADELPHIA – A Malvern nonprofit that provides professional and educational designations for property-casualty insurance and risk management alleges its former chief relationship officer used her salary, bonuses and benefits for personal gain.
The American Institute for Chartered Property Casualty Underwriters (AICPCU), doing business as The Institutes and The Institutes LLC, filed a complaint Nov. 14 in the U.S. District Court for the Eastern District of Pennsylvania against Sydney Posner and The Claims Xchange Inc. alleging breach of contract, breach of duty of loyalty, unfair competition, tortious interference with contractual relations and other counts.
The AICPCU alleges it hired Posner in May of 2018. It alleges she "failed to devote all of her professional activities to plaintiffs' interest and, instead, placed her own interests and/or the interests of her brother above plaintiffs' interests."
The suit states Posner used the plaintiff's equipment and computers to obtain fees for referring entities who were candidates to sponsor AICPCU events.
The AICPCU seeks a declaratory judgment that they do not owe Posner $533,348.20 in severance pay, a trial by jury and other just relief. It is represented by Robert Hayes and Jeffrey Pasek of the Cozen O'Connor Law Firm in Philadelphia.
U.S District Court for the Eastern District of Pennsylvania case number 2:19-CV-05369