Insurance company to be paid $10 million by Lance Armstrong

March 6, 2015March 4, 2015 Julie Campbell

A recent ruling has now been made against the Tour de France cyclist after the insurer sued for fraud. A panel decision has now been made to order Lance Armstrong to pay his insurance company $10 million after that insurer sued him for fraud in 2013 following his highly publicized case of Fraud in 2012. The decision from the Texas arbitration panel was a vote of 2 to 1 with regards to the Tour de France winning bonuses. According to Bob Hamman, the president and founder of the sports insurance…

Nebraska insurance firm files lawsuit against Lance Armstrong

March 4, 2013March 2, 2013 Julie Campbell

Nebraska insurance company sues Lance Armstrong

The insurer has now sued the cyclist for collecting performance bonuses worth $3 million by cheating. Lance Armstrong isn’t finished seeing the backlash from the discovery that he cheated during his major cycling competitions – such as the Tour de France – as a Nebraska insurance company has now filed a lawsuit against him for wrongful collection of payments. The company alleges that he cheated in order to take in a $3 million performance bonus. This performance bonus was offered by the Nebraska insurance company when Armstrong’s team purchased a…