AIG Under Fire Over Alleged Breach Of Contract

The New Hampshire Insurance Company, also referred to as AIG Insurance, has been sued by the previous owners of NBA franchise Atlanta Hawks. The insurers have been accused of breach of contract by, Danny Ferry, the former general manager of the Atlanta Hawks Basketball and Entertainment LLC (AHBE). According to AHBE, AIG should compensate them for losses incurred since the company was covered for any financial loss arising from certain employment practice work incidences comprising of, but not limited to Workplace Torts and Wrongful Termination. AHBE termed the lawsuit as civil action resulting from insurance bad faith and breach of contract on the part of the insurance company.

The lawsuit demands settlement for incurred losses under the breach of contract claim. AHBE states that AIG actively refused to defend the policy during talks between the franchise and AHBE. AIG also declined to acknowledge that the claim has been triggered. Atlanta Hawks current ownership admitted that they know about the claim and clarified that the current ownership was not involved in any of it. Danny Ferry and his team want an extra 50% of unpaid settlement funds plus all attorney related costs and fees. The insurance company did give any response to the lawsuit. Danny Ferry’s AHBE groups also included former club owner Bruce Levenson, The lawsuit was filed on September 13 at the Fulton County Superior Court.

About Bruce Levenson

In 1977, Mr. Bruce Levenson, (see: together with Mr. Ed Peskowitz cofounded United Communications Group (UGC). He also owns Atlanta Spirit, LLC. Mr. Levenson has served on the Board of Directors at Electronic Publishers Association and Newsletter. He is currently a partner at UGC and has been a Director of TechTarget, Inc. since February 10, 2015. He holds a J.D. from American University as well as Bachelor of Arts degree from Washington University. Among several other charitable endeavors, Bruce Levenson is the president of a charity organization named “I Have a Dream Foundation.”

Information on this article can be sourced from Wikipedia.


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