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2023-08-08 -Lurid Crime Tales-

Oberlin College Sues Insurance Companies for Refusing to Reimburse $40 Million Settlement

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Posted by M. Murcek 2023-08-08 00:00|| E-Mail|| Front Page|| [11130 views ] Top

#1
Just asking.
Does Insurance cover Stupid?

Posted by NN2N1 2023-08-08 04:46|| 2023-08-08 04:46|| Front Page Top

#2 Never thought I'd cheer for an insurance company

Posted by Mercutio 2023-08-08 06:59|| 2023-08-08 06:59|| Front Page Top

#3 I'm not sure that self inflicted wounds are covered. I'm sure the company won't point out that the university could have probably settle for much less out of court and that might be what the insurance company should pay.

Posted by Procopius2k 2023-08-08 07:43|| 2023-08-08 07:43|| Front Page Top

#4 What insurance companies do is track risk with respect to probability of occurrence and potential drain on reserves. The outcome of this situation will be policies that explicitly do not cover such obvious stupidity as what the Oberlin administration engaged in. Going forward. As for this incident, whatever the lawyers can make of the fine print is how it will shake out.

Posted by M. Murcek 2023-08-08 07:49|| 2023-08-08 07:49|| Front Page Top

#5 They really like losing their money to lawyers, don't they?

Posted by DarthVader 2023-08-08 09:15|| 2023-08-08 09:15|| Front Page Top

#6 They figuratively set the house on fire intentionally. Insurance companies are loath to reimburse fraud.

Posted by Warthog 2023-08-08 09:21|| 2023-08-08 09:21|| Front Page Top

#7 ...I'm sorry, but you'd have to have a heart of stone not to laugh at this.

The thing to keep in mind here is that the Gibsons got paid - OC is trying to get their insurance to reimburse the school that money, and it ain't working.

Apparently, OC's grip on reality is still a tenuous one, and it appears that they may have heard what they wanted to hear from the insurers. The best part is that:

1) This lawsuit is going to cost them well into, and possibly past seven figures;
2) The law appears to be on the side of the insurers;
3) Even if they somehow pry a vastly reduced amount out of the insurers, said insurers will cut any ties to the school, and finally
4) Rotsa ruck finding anybody to insure them afterwards. They'll find someone eventually, I'm sure...but it's gonna hurt.

I do so love karma.

Mike

Posted by MikeKozlowski 2023-08-08 10:09|| 2023-08-08 10:09|| Front Page Top

#8 In a world of bad news, thanks to Mike for outlining the best news I've heard in a while.

Posted by Bobby 2023-08-08 10:27|| 2023-08-08 10:27|| Front Page Top

#9 As Mike said the insurers are going to have to cough up something. Definitely time to sit back with a big bowl of popcorn.

Posted by magpie 2023-08-08 11:14|| 2023-08-08 11:14|| Front Page Top

#10 It's important that individuals who were involved in this at Oberlin NOT be reimbursed, and are permanently financially damaged by the bakery thing. Only that sort of end result will result in lessons being learned.

Posted by no mo uro 2023-08-08 15:37|| 2023-08-08 15:37|| Front Page Top

#11 ^ Only lessons they will learn is "Don't get caught" and "Those fly-over people are bigots."

Posted by M. Murcek 2023-08-08 15:43|| 2023-08-08 15:43|| Front Page Top

#12 /\ The nomenklatura will never learn, they can't, but the 'bean counters' learn.

Posted by magpie 2023-08-08 17:59|| 2023-08-08 17:59|| Front Page Top

#13 Sounds like force majure to me. Hee hee.

Posted by DooDahMan 2023-08-08 20:33|| 2023-08-08 20:33|| Front Page Top

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