Posted on 08/08/2023 5:20:21 AM PDT by where's_the_Outrage?
Oberlin College is embarking on another legal battle now that it has finally paid out $36.59 million in damages to a local bakery for falsely accusing the business owners of racism. This time, the college is suing four of its insurance providers after they failed to reimburse the school for the multimillion-dollar judgment in the Gibson Bakery’s case.
After a years long legal battle, Oberlin agreed to pay the massive sum to the bakery in September 2022.
Gibson’s Bakery sued the college in 2017, accusing the school and one of its administrators of hurting its business and libeling it over an incident in which the son of the bakery owner stopped three black Oberlin College students, one of whom was stealing wine bottles from the store, in November 2016.....
The lawsuit alleges Lexington and United Educators allegedly “engaged in a systematic, multi-year effort to avoid their coverage obligations by attempting to shift responsibility from the Gibson lawsuit to each other,” other insurance companies or the college.
Lexington and United Educators “both had numerous pretrial opportunities to resolve the underlying litigation for a small fraction of the eventual verdict” and could have settled the case for for less than $10 million before the trial, the school alleges. The college claims it even told the insurance companies to do so....
“If it is established that the defendants knew the alleged statements were false, or if the defendants knew their alleged acts would violate plaintiffs’ rights, the Lexington policy would exclude coverage for any resultant damage.
(Excerpt) Read more at msn.com ...
Oberlin spectating sport, round 2.
Maybe the insurance company can terminate the policy entirely.
In general, if the insured proactively does something that causes the loss, then the insurance will not pay for it.
Glad to see a college get seriously financially hurt by their criminal and racist actions.
Now we just have abouy a 1,000 more colleges and universities to go.
LOVE this!
“Insurance companies are notoriously good at writing their policies”
You mean aa very carefully crafted, only under particular circumstances, payment plan?
That’s what “Insurance” is, isn’t it?
Kind of expected if that’s their business.
This!!!!!!!!!!
So they think the insurance company should cover their stupidity? Ah liberals, is there any level they won’t stoop?
Kollege endowments enjoy a double tax break...
Tax deductible for donors (so they give more), and tax-free investment income (so they keep more).
Well put.
Massive? I wish it had been a hundred million... or five hundred million.
oh yeah. How are they able to amass that fortune?
Shouldn’t they be giving all their money away to poor minorities?
Hope the insurance companies win their legal fees, and interest. Hope many insurers drop Oberlin at first chance and that their premiums skyrocket.
I don’t understand why this case was not settled immediately. Any facts were known at the time, why did not these insurance cos. force the insured to settle? If they attempted to do that and Oberlin refused and decided to fight until the bitter end, well that’s TOO BAD SO SAD. NOT. Suffer you commies, it brings my heart joy!
Yes. Insurance companies have better lawyers than wokey colleges do.
Endowments aren’t what you may think they are. If you donate $10 million to a university endowment, your lawyer will advise you to draft an agreement that explicitly obligates the university to return the money to you or your estate if it is used for anything other than its stated purpose. The university doesn’t technically “own” its endowment funds. It holds them in trust to help the institution fulfill the noble wishes of its benefactors.
You have to wait for your munnay? Just think how that little tiny family business felt, oh high and mighty university administrators, who callously dealt social justice with other people’s money.
Do you mean wasn't? She was a defendant in the suit, but the court ordered Oberlin to pay it all. She got a job an another university immediately. The university commooonity has no shame.
Only 1,000?
Idiots continue to be idiots.
Insurance is for accidents, not for intentional malicious behavior, which this scumbag college engaged in.
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