Back in 2006, the CEO of Pecard Chemical Company, Inc. was killed in a motorcycle crash caused by an uninsured motorist. While the CEO's insurance company, Auto Owners Insurance, paid his widow $150,000, the company denied her $2 million claim under an "executive umbrella" policy. The widow sued. Initially, the trial court ruled in favor of the insurance company. After the widow appealed, the Court of Appeals of Wisconsin ruled in her favor. The case eventually made it to the Supreme Court of Wisconsin, which decided in favor of the insurance company. According to the Court, the executive umbrella policy was meant to provide coverage for third-parties, not for the insured CEO. The Court determined that any other interpretation of the policy would be unreasonable.
Samster, Konkel & Safran, S.C. Milwaukee personal injury attorneys have extensive experience dealing with insurance companies. If you have questions regarding insurance coverage, please contact our Milwaukee personal injury attorneys and we will be happy to talk to you. Also, if you have been injured, contact us and we will help you receive the maximum insurance benefits available.
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