Oberlin College sues 4 insurance companies
over Gibsons Bakery settlement
Chronicle-Telegram [Elyria, OH],
by
Staff
Original Article
Posted By: Harlowe,
8/6/2023 12:43:25 PM
Oberlin College has sued four of its insurance providers in Lorain County Common Pleas Court to force them to cover the multimillion-dollar judgment that Gibson's Bakery won against the college in 2019.(Snip)Oberlin College claimed the insurance companies wrongfully refused "to honor promises they made in their respective policies to protect the interests of Oberlin College" and its former vice president and dean of students, Meredith Raimondo.(Snip)Raimondo was accused of supporting student protesters during the drama, including helping to hand out flyers.(Snip)Other evidence presented at trial included text messages and emails by Oberlin College officials mocking the bakery and its products and threatening to "rain fire and brimstone" on the business.
Reply 1 - Posted by:
chumley 8/6/2023 12:51:47 PM (No. 1528778)
Why should an insurance company have to pay for deliberate bad acts? If I smash up my car with a ball bat, should they have to buy me a new one?
67 people like this.
Reply 2 - Posted by:
FLCracker 8/6/2023 1:09:55 PM (No. 1528798)
So Oberlin is saying the reason they kept making those appeals was because the insurance companies were pushing them to do it, in hopes that the penalties would be reduced, therefore reducing what the insurance companies would have to pay?
Uh-huh. This ought to be some fun legal battles. Question is, Oberlin, what happens if you don't win? Who is going to pay your legal costs then, and who will then be insuring you?
36 people like this.
Reply 3 - Posted by:
BeatleJeff 8/6/2023 1:11:30 PM (No. 1528803)
I noted in the article that it was claimed that two of the insurance companies kept kicking the claim back and forth between each other trying to get the other to pay the bill. This is why it's stupid to have more than one company covering an issue. About once a year I get a letter from my health insurance provider asking if I have a policy with another company. The answer is of course No precisely because of this scenario. The last thing I need is two greedy corporations engaged in a spitting match over who's going to cover my claims.
28 people like this.
Reply 4 - Posted by:
AGGW 8/6/2023 1:12:00 PM (No. 1528805)
The college still hasn't accepted the blame for their own wrong doings. What a sorry bunch of people running it.
57 people like this.
Reply 5 - Posted by:
Vaquero45 8/6/2023 1:18:12 PM (No. 1528810)
If insurance companies want you to appeal a judgment, they pay all costs and attorney's fees. What likely happened is that Oberlin's insurers denied payment due to an intentional act.
37 people like this.
Reply 6 - Posted by:
zephyrgirl 8/6/2023 1:27:38 PM (No. 1528821)
Cry me a river. The important thing is the Gibsons were paid for the damage Oberlin did to their business and reputations.
Even if Oberlin is able to force the insurance companies to foot the bill, I suspect any future policies will have higher premiums, as well as language excluding coverage for libel, slander or boycotts by faculty and staff.
36 people like this.
Reply 7 - Posted by:
montwoodcliff 8/6/2023 1:36:08 PM (No. 1528832)
I’m lovin’ it! You want woke, you got it—back in your face Oberlin! You went too far in calling everyone “racist”. This is one time it didn’t work. Let’s see how smug you are now.
30 people like this.
Reply 8 - Posted by:
MickTurn 8/6/2023 1:46:19 PM (No. 1528837)
As much as I hate Insurance Companies, they are right to deny coverage for Abuses perpetrated BY the College Administrators/Leadership.
32 people like this.
Reply 9 - Posted by:
mc squared 8/6/2023 2:09:13 PM (No. 1528861)
House insurance won't pay if you burn your house down intentionally. Oberlin's actions were self inflicted.
33 people like this.
Reply 10 - Posted by:
DVC 8/6/2023 2:09:43 PM (No. 1528863)
Leftists are ALWAYS grubbing and digging for Other People's Money to pay what they owe.
Pay it yourself, you rotten people!
29 people like this.
Reply 11 - Posted by:
SycamoreHills 8/6/2023 2:35:16 PM (No. 1528876)
#1 is right. Insurance premiums would be much higher if the companies paid claims for outrageous acts performed by the insured. #3 The reason the college has more than one insurer is that one company would not be willing to assume all the financial risk that stupid actions that the insured, in this case Oberlin College might take. Also the reason the insurance company asks if you have coverage from another company is to avoid a moral hazard. I knew a fellow who had retired and as a benefit the company he worked for continued his major medical insurance. He also had Medicare so that when he got sick he was profiting by having double coverage.
6 people like this.
Reply 12 - Posted by:
volksford 8/6/2023 2:39:15 PM (No. 1528878)
This little chicken$$hit lib college is a pestilence
22 people like this.
Reply 13 - Posted by:
JHHolliday 8/6/2023 2:42:21 PM (No. 1528881)
#5 is most likely correct but it’s also possible the the insurance companies did some haggling among themselves. The definition of “intentional act” can be legally tricky and there was discussion about using it to exclude coverage or just pay up and avoid massive legal fees. I have seen companies pay what they knew was a false and/or inflated claim for, say, $50,000 because they knew they would spend twice that to justifiably deny the claim in litigation.
One poster noted the several companies covering Oberlin. This is quite common on large risks. One company might specialize in a particular coverage or the overall high property values or liability exposure is more than a single insurer wants exposure to.
Apologies for the long rant but I guess this old, retired insurance agent still gets interested when something like this comes up.
11 people like this.
Reply 14 - Posted by:
Lesthanzero 8/6/2023 2:48:37 PM (No. 1528887)
If several regional banks can go under because of mismanagement, it wouldn't sadden me in the least to see mismanaged colleges go under as well.
22 people like this.
Reply 15 - Posted by:
jimincalif 8/6/2023 2:49:02 PM (No. 1528889)
Kind of like the Iran-Iraq war BITD, I’m rooting for both sides to lose!
13 people like this.
Reply 16 - Posted by:
stablemoney 8/6/2023 2:58:24 PM (No. 1528897)
Oberlin College is wasting more of their money. When you intentionally set a fire, don't ask the insurance companies to pay for it.
19 people like this.
Reply 17 - Posted by:
rememberwhen 8/6/2023 3:04:45 PM (No. 1528905)
Boo-hoo.
14 people like this.
Reply 18 - Posted by:
Hazymac 8/6/2023 3:19:52 PM (No. 1528911)
Why doesn't Oberlin sue themselves? Scratch that, it's already been done, successfully.
10 people like this.
Probably a Democrat owned insurance company
7 people like this.
Reply 20 - Posted by:
Dodge Boy 8/6/2023 3:44:38 PM (No. 1528928)
I was hoping Obie College would be closing its doors by now due to a Chapter 7 liquidation.
15 people like this.
Reply 21 - Posted by:
Krause 8/6/2023 3:55:26 PM (No. 1528933)
If the Oberlin lefties had believed in actual 'law and order,' and letting it take it's normal course, it wouldn't have cost them anything. Of course now, they are probably 'defund the police' idiots also.
10 people like this.
Reply 22 - Posted by:
Luandir 8/6/2023 3:58:51 PM (No. 1528934)
#1, I hope it costs them more millions in legal fees to find that out. That won't put much of a dent in their billion-dollar endowment, though.
11 people like this.
Reply 23 - Posted by:
Omen55 8/6/2023 5:45:53 PM (No. 1529005)
It's Trump's fault!
3 people like this.
Reply 24 - Posted by:
udanja99 8/6/2023 6:49:28 PM (No. 1529034)
All because a couple of minority (ahem) thug students tried to steal a bottle of wine. That’s gotta be history’s most expensive bottle of wine.
11 people like this.
Reply 25 - Posted by:
john56 8/6/2023 10:02:57 PM (No. 1529111)
Maybe Gibsons Bakery can cater the "we hope both sides lose" party.
3 people like this.
If the insurance companies indeed had something to do with pushing this trail of appeals in hopes of getting out of paying, I just might be willing to support Oberlin on this one. Insurance companies can be very evil when it comes to ways of getting out of paying. After all, Oberlin paid premiums for how long? All in hopes of having a back up payment fund with it hit the fan like with the Gibson lawsuit. Play stupid games insurance companies, and win stupid prizes.
0 people like this.
Reply 27 - Posted by:
mifla 8/7/2023 4:38:44 AM (No. 1529227)
The college and the insurance companies deserve each other.
The lawyers are picking out their vacation homes.
2 people like this.
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According to an Oberlin College link, the “total endowed funds as of June 30, 2021 were $1,272.4 million as compared to $936.6 million the previous year, an increase of $335.8 million. In comparison, total endowed funds increased by $12.0 million in the fiscal year ended June 30, 2020, from $924.6 million at June 30, 2019.” Another Oberlin College link (Intentional Endowments Network) shows the endowment value $1.09 billion (2021).