NU Online News Service, May 17, 1:13 p.m.EDT

|

A lawsuit filed in Florida by professional wrestler Hulk Hoganwas thrown out of the ring by a judge this month.

|

The lawsuit filed about a year ago in Pinellas County, Fla.,alleged insurance broker Wells Fargo Southeast did not inform thepopular entertainer, whose real name is Terry Bollea, of anadditional excess/umbrella policy to cover his assets. This leftBollea underinsured when his son, Nick, was in a 2007 automobileaccident that severely injured a passenger.

|

Last November Bollea added his ex-wife Linda to the lawsuitbecause she was his business manager and allegedly had theresponsibility of attaining the right insurance for her thenhusband.

|

Wells Fargo has said the lawsuit was without merit and that itmade several attempts to recommend coverage to Bollea’sex-wife.

|

In August 2007 Bollea's son got into an accident and left thepassenger with a serious brain injury. The professional wrestlersigned for his son's driver's license, which exposed him toliability, but his insurance remained inadequate, the suitsays.

|

Bollea settled claims against him related to the accident for anundisclosed amount, paying for some out of his pocket.

|

Bollea used Wells Fargo as his insurance broker for about 10years and relied on the broker to tell him about additionalinsurance coverage to protect his worth, which was about $30million in August 2007, according to court documents.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.