A federal appeals court has reopened a high-stakes fight over management fees and fiduciary duties at Erie Insurance Group’s reciprocal exchange.
On Oct. 14, the US Court of Appeals for the Third Circuit issued a decision in Erie Indemnity Company v. Stephenson, a case that addresses ongoing disputes over management fees within Erie Insurance Group’s reciprocal insurance exchange.
Erie Indemnity sought to enjoin the Stephenson plaintiffs from proceeding, arguing that prior federal court judgments in the Beltz and Ritz cases precluded the new claims. The District Court granted a preliminary injunction, agreeing with Erie Indemnity’s claim preclusion argument…