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Insurance Company Breach

Hawks Last Owner Sues Because of Ferry Settlement

The former group of owners for The Atlanta Hawks has chosen to bring a lawsuit against a company named New Hampshire Insurance Company. They feel that New Hampshire Insurance Company breached a contract when they made a settlement claim with Dan Ferry, the former manager of the team. The ownership group has within its members Bruce Levenson who is a controlling partner. This lawsuit is restricted to the former owning group of the Atlanta Hawks and is in no way connected to its current owner Tony Ressler.
This lawsuit was filed in court on September 13th. It was filed in the Superior Court of Fulton County against AIG. AIG is an alternate name for the New Hampshire Insurance Company. It has officially been accused of bad faith with insurance and civil breach of contract. The former Hawks ownership group is making the claim that it was covered by insurance for employment practices such as “Workplace Torts” and “Wrongful Termination”. They brought these claims to AIG in April of 2015 but they were not satisfied with the response they received.

Back in June of 2015, Danny Ferry and the ownership group made an agreement to buy Ferry out of his contract. Ferry’s contract had guaranteed him $18 million for 6 years of coaching the Hawks. Apparently, the ownership wanted to terminate Ferry’s contract before completing the sale of their franchise to Tony Ressler. The current owner of the Atlanta Hawks has opted not to comment on the dispute and asks that no further questions be directed at him.

In the lawsuit, it is stipulated that the limits of liability policy apply in a way that would trigger AIG’s responsibility to make payments. The owners charge that AIG refused to do its part when the claims were brought to its attention and that constitutes a breach of contract. Learn more about Mr. Levenson, visit his Wiki page and official website:  brucelevenson.com.

http://www.prnewswire.com/news-releases/undergrads-and-graduate-students-mastering-philanthropy-300038081.html

 




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