Bruce Levenson is probably most known for being a former owner of the Atlanta Hawks basketball team and the founder of UCG. Something people may not know about Levenson is that he attended Washington University, where he earned a Bachelor of Arts degree, and American University, where he earned his J.D. Levenson is also the president of the “I Have a Dream Foundation.” http://www.prnewswire.com/news-releases/undergrads-and-graduate-students-mastering-philanthropy-300038081.html
Forbes billionaire Bruce Levenson, one of the other former owners of Atlanta Hawks Basketball and Entertainment LLC, has been making headlines. On September 13, 2014, a lawsuit was filed against New Hampshire Insurance Company, also described as AIG. The lawsuit does not involve the current Hawks owners.
According to the former owners, also described as AHBE, AIG has breached their contract and is acting in insurance bad faith. Prior to the lawsuit, AHBE had reached an agreement with the insurance company’s former general manager, Danny Ferry. Still, the insurance company has yet to pay out.
AHBE has provided documents proving that their policy covered them for certain losses related to employment practices. The certain acts listed in the policy included acts of “wrongful termination” and workplace torts.” On April 2, 2015, AHBE even provided the documents proving Ferry’s previous agreement with them.
Even with all the evidence stacked against them, AIG continued to refuse pay on any claim. AIG is maintaining that no policy was triggered and any settled agreed upon with Ferry is not valid. Not only is AIG refusing to acknowledge the claim, they’re also refusing to participate in the defense or accept coverage.
Due to all obvious acts of bad faith, the lawsuit is seeking an additional 50 percent penalty. AIG’s behavior in the matter is irreprehensible. Although AHBE is will to tell their side, AIG has yet to offer any explanation for their behavior.