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AIG Has a Duke Lacrosse Problem

As if AIG didn't have enough problems, what with running through, and now owing 23 Billion of tax dollars, as part of the $150 billion bailout the Fed has arranged, it now has gotten itself ensared in the ugly morass that is the Duke lacrosse case. How can a global giant insurance and financial services company get caught up in a case involving a local lying Durham North Carolina stripper and a bunch of college lacrosee players? Easy, don't pay insurance claims.

Duke has field suit against AIG subsidiary National Union Fire Insurance Company for failure to pay claims arising out of the university's settlements with the lacrosse players and coach. Duke lacrosse - truly the case that refuses to die.

Full post as published by Sports Biz on December 15, 2008 (boomark / email).