Salute to Attorney DellUniversita for his promptness, his insight, and his ability to rescue his client Mr. Nocella the sum of $1,501,674.26 from the claws of Allstate’s ABO greed.
Allstate on 3-1-2018 gave notice to appropriate Mr. Nocella’s book of $5.1 million through ABO (Allstate Business Objectives) by offering $98,325.74 in its TPP (Termination Payment) program to confiscate the 1.6 million market value of such a book. The deadline date is 7-1-2018 for Allstate to pocket the $1.5 profit through ABO and TPP.
Lucky for Mr. Nocella that he had Mr. Anthony DellUniversita as his attorney, who fought like a lion to stop Allstate to seize the $1.5 profit from him on 7-1-2018 before Judge Gaguilo in the N.Y. Suffok County Supreme Court to be granted an additional 45 days to sell his book, which he fetched $1,6 million on 8-15-2018. Mr. D’s speedy filing of a complaint to defend him on 3-10-2018, ten days after the notification of termination from Allstate, certainly help. Not everyone is so lucky to find an attorney like Mr. D to represent him/her.
Also, as pointed out by Mr. D, TPP is not a genuine buyout. The termination of the EA Agreement does not relieve Allstate from paying Mr. Nocella his “cut” of the premium generated by his book of business. This view is expressed in the Amended Complaint by Mr. D in Nocella et al. v. Allstate et al. (Case No. Case 2:18-cv-01995-ADS-AYS Doc. 7 at 655(E.D. NY 08/24/18)) by quoting N.Y. Ins. 3425 (j)(l)(D), which states, terminated agent or broker shall be entitled to receive commissions on accounts of all business continued or written, at the insurers prevailing commission rate. He declares, “Allstate’s intention to no longer compensate Nocella for his commission is a direct violation of N.Y. Ins. [Laws].” Id.
I was unable to get hold of the court ruling on the latter matter, but, when I get it, I shall post. Welcome viewer’s feedback.
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