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Oh-oh! Oberlin College’s insurance
company says their policy doesn’t
cover the huge verdict against it

Original Article

Posted By: Magnante, 6/8/2019 5:39:59 PM

The insurer that covers Oberlin College for liability, Lexington Insurance Company, filed documents with court last month indicating that its umbrella liability policy would not cover costs of any judgment for the plaintiffs. That means that if, after the appeals process has run its course, the plaintiffs move to collect the $11 million a jury just awarded them (plus whatever punitive damages – up to $22 more – are awarded next week), Lexington likely won’t pay and Oberlin would have to sue for reimbursement. (snip) Oberlin has a mess on its hands and its trustees must begin planning for possible need to cough up millions of dollars.

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Reply 1 - Posted by: PlayItAgain 6/8/2019 5:50:23 PM (No. 93842)
Oberlin has an endowment fund worth over $850 million. There was a link on the Legal Insurrection page, in a comment from a poster. The link was to a letter that Oberlin sent out to students explaining why they were increasing tuition. The letter, from Oberlin, no less! mentioned the value of the fund. I think it's time we go after some of these endowment funds. They are of no benefit to anyone except the financial managers who manage them. And I do hope this Raimondo woman is obligated to pay for this out of her own pocket.
18 people like this.

Reply 2 - Posted by: doctorfixit 6/8/2019 5:52:35 PM (No. 93845)
Sue leftwing colleges and universities into bankruptcy. Brilliant!
19 people like this.

Reply 3 - Posted by: Mushroom 6/8/2019 6:05:37 PM (No. 93856)
As an aside, an Insurance Co that initially refuses to pay? Golly, that's never happened before!
9 people like this.

Reply 4 - Posted by: HerbVA 6/8/2019 6:26:54 PM (No. 93870)
Mrs. Herb just came up with the brilliant idea to have a bake sale to raise legal defense funds.
13 people like this.

Reply 5 - Posted by: Plex 6/8/2019 6:31:09 PM (No. 93875)
Income from the endowment fund undoubtedly pays for scholarships, research grants, and other benefits.
4 people like this.

Reply 6 - Posted by: DVC 6/8/2019 6:31:54 PM (No. 93878)
Uh-oh! Gonna have to open their OWN wallet and dip into their OWN funds! How sad. NOT!
12 people like this.

Reply 7 - Posted by: RenoVet68 6/8/2019 6:34:42 PM (No. 93880)
Oberlin College: "UNDER NEW MANAGEMENT".
10 people like this.

Reply 8 - Posted by: snakeoil 6/8/2019 6:39:10 PM (No. 93886)
Maybe they could have a Bake Sale.
5 people like this.

Reply 9 - Posted by: chase9365 6/8/2019 7:08:32 PM (No. 93906)
SAAAAAAWWWWEEEEETT
8 people like this.

Reply 10 - Posted by: padiva 6/8/2019 7:23:50 PM (No. 93916)
It will soon be known as Gibson University.
7 people like this.

Reply 11 - Posted by: preciosodrogas 6/8/2019 7:34:47 PM (No. 93927)
Punitive damages hearing coming up shortly, bad form to flash super-fundfunds. With a $850mil endowment sitting there for all to see almost anything huge should look reasonable. .
9 people like this.

Reply 12 - Posted by: fayebeck 6/8/2019 7:51:36 PM (No. 93942)
Just raise tuition for those stupid parents and their soon to be more ignorant kids who are breathlessly waited to be accepted by this prestigious institution of "higher learning".
11 people like this.

Reply 13 - Posted by: Bohallx 6/8/2019 7:52:28 PM (No. 93943)
Other articles point to $33 million more as punitive damages. This could be $44 million large! More than 10% of their fund. A lesson, when the school takes part in a student riot, they could be held liable later.
14 people like this.

Reply 14 - Posted by: PeasantNumberThree 6/8/2019 8:58:54 PM (No. 93974)
Like the youngsters say: Sucks to be you, Oberlin!
6 people like this.

Reply 15 - Posted by: anniebc 6/8/2019 9:29:53 PM (No. 93985)
Ha! Ha!
3 people like this.

Reply 16 - Posted by: smcchk 6/8/2019 9:41:41 PM (No. 93991)
Students and academia play at social justice but need to learn lessons in real justice, in the real world, with real consequences. Excellent case study for the future.
11 people like this.

Reply 17 - Posted by: Calvinesq 6/8/2019 9:41:51 PM (No. 93992)
The article is not specific. Was the insurance company running the defense? If so, fire the lawyers. Should have settled. If the insurance company did not run the defense? The insurance company should cancel the policy and tell Oberlin, "tough" you-know-what. If the verdict was intentional wrongdoing (see punitive damages!), no insurance company would cover it. Negligence, yes; willful misconduct - you eat it. I have a feeling Oberlin will need to sue the insurance company, which may take years; but if the verdict stands, they will need to eat it no matter what.
11 people like this.

Reply 18 - Posted by: udanja99 6/8/2019 10:09:11 PM (No. 94008)
Hey, Oberlin, how’s that BLM thing working out for you?
11 people like this.

Reply 19 - Posted by: Omen55 6/8/2019 10:22:51 PM (No. 94023)
SJWs are gonna be tight for $$$ in old Oberlin.
6 people like this.

Reply 20 - Posted by: PChristopher 6/8/2019 10:51:19 PM (No. 94038)
Good. I hope the punitive damages make it hurt.
8 people like this.

Reply 21 - Posted by: ussjimmycarter 6/9/2019 1:11:20 AM (No. 94056)
And Gibson says “ I’ll take that!”
1 person likes this.

Reply 22 - Posted by: emmajustin 6/9/2019 3:03:21 AM (No. 94077)
I hope the Gibson's have SUPER attorneys. Register the judgment in the county where the college and dean's land and buildings and home are located. Garnish the bank accounts that receive tuition money from the parents AND the investment accounts of the endowment funds. And remember to go after everything that witch dean owns--make it hurt. Get her before she tries to "sell" her house to her brother and then file banko. Keep the pressure on to force the college to pay up without waiting for the resolution of any insurance claims.
3 people like this.

Reply 23 - Posted by: Strike3 6/9/2019 3:58:57 AM (No. 94087)
They could have simply apologized for their stupid and racist behavior and continued to buy donuts. They deserve that loss and more
1 person likes this.

Reply 24 - Posted by: Trigger2 6/9/2019 4:28:55 AM (No. 94091)
Too bad. You played the commie game and you lost Oberlin. Cough up your 900 million endowment money.
2 people like this.

Reply 25 - Posted by: LadyChurchillUSA 6/9/2019 4:53:17 AM (No. 94098)
Maybe Soros can come up with the money for them. After all it's chump change to him and he is funding most of these phony protests anyway.
7 people like this.

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The insurer that covers Oberlin College for liability, Lexington Insurance Company, filed documents with court last month indicating that its umbrella liability policy would not cover costs of any judgment for the plaintiffs. That means that if, after the appeals process has run its course, the plaintiffs move to collect the $11 million a jury just awarded them (plus whatever punitive damages – up to $22 more – are awarded next week), Lexington likely won’t pay and Oberlin would have to sue for reimbursement. (snip) Oberlin has a mess on its hands and its trustees must begin planning for possible need to cough up millions of dollars.
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The insurer that covers Oberlin College for liability, Lexington Insurance Company, filed documents with court last month indicating that its umbrella liability policy would not cover costs of any judgment for the plaintiffs. That means that if, after the appeals process has run its course, the plaintiffs move to collect the $11 million a jury just awarded them (plus whatever punitive damages – up to $22 more – are awarded next week), Lexington likely won’t pay and Oberlin would have to sue for reimbursement. (snip) Oberlin has a mess on its hands and its trustees must begin planning for possible need to cough up millions of dollars.
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