Jerry Sandusky is in the clear right now, at least in one respect. His legal bills to defend himself against criminal charges that he sexually abused young boys are being paid by a unit of one of the nation's largest property-casualty insurers, Chubb Corp. And both Chubb and I don't like it. Chubb went before the judge presiding over the case and cited Pennsylvania law, which bars enforcement of insurance contracts if "certain reprehensible conduct" occurred. But -- for now -- the judge denied Chubb's request, and the insurer could have to pay much more than the $125,000 it's already given to Sandusky and his legal team. Factor in the 52 separate charges that he faces, including taking private showers with 10-year-olds, and his defense costs will probably run into the millions. If convicted, Sandusky could supposedly have to pay back the money. But I think they'll need a good enforcer to collect if Sandusky is in jail and the money is spent. Children in need By now, most of us know that Sandusky ran a charity called "The Second Mile," which was supposed to help children in need. Like other charities, The Second Mile purchased insurance. In this instance… (continue reading......)
Copyright © 1996-2013 The Fine Print - Presented by Insure.com. All rights reserved.