Canadiens’ Markov files $1.2 million lawsuit against insurance broker over dishonest policy
Andrei Markov can't catch a break. If it wasn't already frustrating enough that knee problems have caused him to miss most of the past three years, the Montreal Canadiens' defenceman also recently realized he'd been ripped off on an insurance policy sale.
Now he's suing. Markov filed a suit this week against insurance broker Erik Niskanen and Great West Life for being dishonest about a policy he was sold in 2007.
Really dishonest, according to the suit. Markov was led to believe his family would get money they wouldn't, that he could get back money he couldn't, and that Niskanen was even allowed to sell him insurance, which he wasn't. (Markov may as well have been buying a policy from Matt Niskanen.)
From La Presse, translated:
Mr. Niskanen also led Markov to believe that his wife and children would receive a bonus of $28 million if he died, which was false. Also false was the assertion that the money invested in the insurance policy could be recovered without penalty at any time. This clause, however, is essential if an athlete should be required to relocate outside Canada after a trade. Moreover, according to the claim filed in court, Erik Niskanen did not even have the right to sell insurance in Quebec. To circumvent this, he would have registered the defenseman, who lives in Candiac, QC, under false addresses in Ontario.
William Johnston, who manages Markov's affairs, alleges in the lawsuit that the broker took advantage of the poor English of his client and his limited knowledge of the world of finance and insurance to hide critical information. It would explain why it would have taken the player more than three years before realizing that he overpaid for the wrong product.
The suit makes the exploitation of the language barrier a central issue. "Markov, whose mother tongue is Russian, has received all the explanations in English or through an interpreter who has no training to sell insurance," it reads.
But now Markov is aware that he's been Glengarry Glen Ross'd, and he wants his money back. Over the last five years, that adds up to a whopping $1.2 million.
Follow Harrison Mooney on Twitter at @HarrisonMooney
