A federal judge adopted the report and recommendation to dismiss a plaintiff’s motion for preliminary injunctive relief last week in a lawsuit alleging that the defendants breached their fiduciary duty by allegedly diverting revenues to other insurance carriers.
Jeffrey Schram developed a web-based pay-as-you-go system for the industry to manage payment of premiums. Schram and the defendant, PMC Insurance Agency, a wholesaler of workers’ compensation policies, agreed to form PMC PayGo LLC to facilitate “the implementation of software products to support ‘pay-as-you-go’ insurance sales,” according to the magistrate judge’s report and recommendation filed with the judge’s order Feb. 1.
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