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I expect they want a judgement for a specific damage, then when they can’t collect they have insurance to cover that specific amount. Without a judgement for an
by prepend 3y ago
I expect they want a judgement for a specific damage, then when they can’t collect they have insurance to cover that specific amount. Without a judgement for an amount, their insurance would pay out a lesser amount.
- 2muchcoffeeman 3y agoThen I assume that the woman they harassed will get a cut of the insurance money for the unnecessary stress they endured? Otherwise the court should just throw this out. It’s only 1.2m.
- prepend 3y agoI don’t see any evidence that the company thought they were harassing someone. It seems they were just routinely pursuing someone they thought harmed them. Hopefully, the judgement will be dismissed since it’s based on identity fraud.
- gruez 3y ago>Without a judgement for an amount, their insurance would pay out a lesser amount. Who in their right mind would insure Adidas (or any other internationally famous brand) for trademark infringement? You're almost guaranteed to pay out millions in "damages" per year.
- prepend 3y agoCorporations insure for all sorts of things and a company as big as Adidas must certainly have operational risk insurance [0] for things like this. I remember many years ago, the startup I worked for was required to have insurance as part of our funding round and it covered stuff like officers freaking out in public and all sorts of odd things I didn’t think was insurable. Corporate insurance is pretty interesting in this regard. And no matter who is insuring, in the US it’s probably reinsured by Marsh McClellan [1], a huge reinsurance firm. [0] https://content.naic.org/cipr-topics/operational-risk https://content.naic.org/cipr-topics/operational-risk [1] https://en.wikipedia.org/wiki/Marsh_McLennan https://en.wikipedia.org/wiki/Marsh_McLennan