Category: Insurance Industry

AHBE Seek Justice for a Breach of Contract from Insurance Company

The former ownership group of Atlanta Hawks Basketball and Entertainment LLC filed a lawsuit against an insurance company. The New Hampshire Insurance Company breached the contract that involves the settlement of claims that were made by the former general manager of the company, Danny Ferry.

AHBE means the former Hawks ownership group. It includes Bruce Levenson as the controlling partner. The lawsuit involved the AHBE but excluded the current Hawks ownership group, which is led by Tony Ressler, the principal owner.

Ferry and Hawks reached an undisclosed agreement worth $18 million contract in 2012. After two days, the Ressler group got an approval for the sale of Atlanta Hawks Basketball and Entertainment LLC.

The Lawsuit

In September, AHBE filed a lawsuit in the Superior Court of Fulton County against the insurance company described as AIG. The lawsuit entailed a civil action for bad insurance faith and a breach of contract. AHBE claimed that it was insured under a policy that covered losses related to employment practices was not limited to acts like “Workplace Torts” and “Wrongful Termination.”

Based on the court’s document, the lawsuit cited that the confidential limits of liability and policy were adequate to act on the claims of AHBE. Furthermore, the litigation cited that AIG had refused to acknowledge the activation of the policy.

Based on the lawsuit, AIG had denied paying for the covered losses without justification in bad faith. The representative firm for AHBE cited that the complaint should speak for itself. The lawsuit is seeking an extra 50 percent fine of the unpaid loss and the lawyer’s fees.

Bruce Levenson

Bruce Levenson is the previous owner of Atlanta Hawks LLC, reveals ESPN. He collaborated with Ed Peskowitz to establish United Communication Group (UCG) in 1977. Bruce, according to PR Newswire, has exhibited philanthropic acts to the Hoop Dreams Foundation and Community Foundation of Washington, D.C. Additionally, Bruce has acquired a Bachelor degree in Arts from Washington University and a J.D. from American University.

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Vinny Parascandola Has An Overall Understanding Of The Insurance Industry

The insurance industry is one of the most utilized industries in the business world. People of all ages use insurance. The use of insurance by many people is because being without insurance regarding various aspects of life can be a huge problem. People without health insurance who need medical care can have bills that run into the hundreds of thousands of dollars. The need for health insurance is real and many people have health insurance just in case they need medical care.

Other types of insurance are also important in the same manner as health insurance. People purchase and maintain automobile insurance, life insurance, and home insurance for many of the same reasons as people purchase health insurance, which is to protect themselves against potential financial problems in case of an unexpected situation related to the type of insurance coverage.

The insurance industry has many companies that provide insurance. One of the insurance companies that is recognized as one of the best insurance companies in the industry is AXA Advisors. The company was started in the early 1800s as Mutuelle de L’assurance contre L’incendie. The company has changed names several times during its existence. The current name of AXA Advisors was started in the 1980s. With its main headquarters in Paris, France, AXA Advisors is a multinational company that has offices spread across the world.

The company has one of its offices in New York. One of the Senior Vice Presidents at the New York office is Vinny Parascandola. He has many important job duties that he provides at AXA Advisors. Vinny Parascandola has been in the insurance industry for over 20 years. He has a well-rounded view of the insurance industry from the experience he has gained over the years in the insurance industry.

Vinny Parascandola has earned a great reputation in the insurance industry. He has a proven track record as an executive, and Vinny Parascandola is respected for his ability to get results. Vinny Parascandola understands people and how to organize and run business operations. These skills and talents have been a great help to Vinny Parascandola in his career.