Broker’s Lawyer Sizes Up the Ohio National Litigation
March 5, 2019 by Greg Land
A lawyer for one of the brokers involved in the litigation with Ohio National Life Insurance Co. over trail commissions says the lawyers involved in the cases have been in contact with one another.
Dennis Concilla — a partner at Carlile Patchen & Murphy in Columbus, Ohio — is part of the team representing Lance Browning, a Texas broker who filed a putative class action against Ohio National in November, in the U.S. District Court for the Southern District of Ohio.
Concilla said in a recent interview that he has reviewed several of the selling agreements that Ohio National had with its broker-dealers, and that — although there are differences between the agreements — “they all basically say, ‘Here’s our product, you’re going to sell it, we’ll pay you commissions and our obligation to pay extends beyond the life of the contract.’”
Ohio National reserved the right in some of the agreements to change the commission rate, but the agreements did not give Ohio National the right to simply stop paying the commissions, Concilla said.
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