In light of all of the lawsuits against him, it’s not hard to believe that Bill Cosby owes a lot in legal fees. Fortunately for him, his insurance company has agreed to “foot the bill in 3 of his sexual assault cases.”
In light of all of the lawsuits against him, it’s not hard to believe that Bill Cosby owes a lot in legal fees. Fortunately for him, his insurance company has agreed to “foot the bill in 3 of his sexual assault cases.” For those who don’t know, Cosby has been accused of sexual assault by three women, Tamara Green, Therese Serignese and Linda Traitz. This recent decision on behalf of Cosby’s insurance company, AIG, comes after the company initially said it would not pay his costs or any civil judgment, on grounds the policy excluded “sexual molestation, misconduct or harassment,” according to TMZ.
But why the sudden change of heart? Well, it was not all AIG’s choice. In fact, it was a judge that “ruled AIG did indeed have a duty to defend Cosby,” against the defamation claims, which, it seems, is what lead the insurance company to agree to cover Cosby’s bills.
So how much will AIG cover, and how was Cosby able to pull it off that his insurance company would foot the bill instead of him? For starters, TMZ reports that “AIG agreed to reimburse Cosby $675,000 for attorneys fees and costs he’s already incurred, and it appears they will cover future costs as well.”
As for how the bill landed in AIG’s lap, well, it really boils down to Cosby’s “fancy insurance coverage.” Whereas the typical homeowner’s insurance covers bodily injury, members of the rich and famous class often add “personal injury” to their insurance contracts, which covers “injury to the mind and emotions. Defamation is considered a personal injury.”
However, though AIG has agreed to pay Cosby’s legal fees “in three of the defamation cases,” it has decided to take him to court as well, arguing that “it should not have to cover claims that arose from alleged acts of sexual misconduct because of a sexual misconduct exclusion in his policies.”
As of Thursday, AIG has declined to comment on the matter so far.
Sources:
BILL COSBY – MY INSURANCE COMPANY WILL FOOT BILLS In Sexual Assault Cases
Here’s Why Bill Cosby’s Homeowner’s Insurance Is Helping Him Pay His Legal Costs
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