Wells Fargo: Hulk Hogan Rejected Our Insurance Advice
CLEARWATER, Fla., Apr 27, 2010 (A. M. Best via COMTEX) --
Wells Fargo Insurance Services said it offered to get a personal umbrella policy for professional wrestler Hulk Hogan's family but the offer was rejected.
Wells Fargo said there is "clear evidence" that the broker tried to get the insurance for Hogan, whose real name is Terry Bollea. "The claims made by Mr. Bollea and his attorney are without merit and Wells Fargo intends to vigorously defend this frivolous lawsuit," the company said in a statement e-mailed to BestWire.
Hogan was worth an estimated $30 million in August 2007, when his son Nick crashed Hogan's car and left passenger John Graziano with a serious brain injury. Hogan paid out of his pocket to settle all Graziano claims against him, according to the suit. That settlement is currently confidential. The wrestler and reality show star alleges that despite his liability exposure, "Wells Fargo Southeast never advised, suggested or spoke to him regarding the advisability of an excess insurance policy or umbrella policy to protect his substantial assets in the event of a potential loss," reads the suit filed April 22 in Pinellas County, Fla. As of April 26 Wells Fargo said it had not been served the lawsuit and has not reviewed all of Hogan's allegations.
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