AIG Specialty Insurance sues the Walt Disney following ABC News’ settlement with Beef Products Inc. for reports of “pink slime.”
AIG Specialty Insurance insures ABC’s parent company, the Walt Disney Company. The insurance company sues the Walt Disney Company for its insistence to settle with BPI, which will end up costing the company $177 million after amounts covered by insurance are deducted.
The insurance company claims the Walt Disney Company’s settlement is not covered by its policy with AIG. Meatingplace reports the policy specifically excludes coverage for legal claims alleging “malice,” which the BPI product defamation suit did include.
By filing a lawsuit, AIG seeks to prevent Disney from pursuing coverage from the company through arbitration.