I fail to see the university’s grounds for a claim. I’m not an insurance company man, I’m an agent, so I’m not sticking up for them. BUT I just don’t see the coverage for this type of loss. I see a bunch of lawyers attempting to translate an insurance policy for coverage? Can someone point out where coverage is for this type of loss. I don’t remember any stupidity clause in a CGL.
Sounds like some sort of directors & Operations policy or perhaps a performance bond? Still seems kind of nebulous though. “we bought insurance and you need to pay because we mismanaged our own project”??
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I fail to see the university’s grounds for a claim. I’m not an insurance company man, I’m an agent, so I’m not sticking up for them. BUT I just don’t see the coverage for this type of loss. I see a bunch of lawyers attempting to translate an insurance policy for coverage? Can someone point out where coverage is for this type of loss. I don’t remember any stupidity clause in a CGL.
Sounds like some sort of directors & Operations policy or perhaps a performance bond? Still seems kind of nebulous though. “we bought insurance and you need to pay because we mismanaged our own project”??
I belive they are filing for misappropriation of funds which is a covered peril under an E&O policy.
Dan Martinez, ICC