Posts Tagged ‘New York State Insurance Department’

Duke lacrosse incident ends up in suit against insurer

November 30, 2008

Seems National Union Fire Insurance Company of Pittsburgh didn’t want to cover damages resulting from litigation involving the Duke lacross team.   This not an unusual or particularly interesting lawsuit but it does provide insight into the National Union as a company and the kind of products it provides to what kind of clients.

Insurance companies are particularly opaque entities when it comes to determining what they do for whom.  Many aren’t public companies or like National Union they are subsidiaries of much larger companies, in this case, joy of joys, AIG.  How did I figure that out?  Not from the complaint which in this case doesn’t provide us much  except for the fact that its principal place of business is New York State which provides good public information about insurance companies.  In this case, it tells us that National Union is a subsidary of AIG.  It also give a laundry list of they types of insurance National Union provides, everything from accident and health to glass insurance (not sure what that means, insuring windows?).  But it doesn’t give us any notion that it would insure Duke University against claims like this one.  Here we must rely on the complaint to learn that.  Specifically, we are told that National Union sold Duke two non-for-profit Individual and Organization Policies.  This is the kind of competitive intelligence, that is very difficult to come by except anecdotally or through complaints.

Complaint courtesy Courthousenews

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