Wonder what the insurance company thinks about co-signing these morons?
Talk about bad fiduciary decision making.
The insurance company that furnished the appeal bond first received a very hefty, non refundable fee from Oberlin. This does not credit against any judgment claim. Next, I believe Oberlin had to put up collateral assets via liens sufficient to cover claims up to the policy limits.
In summary, the insurance company has a fixed, known rate of return profit from the start.