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…

Insurance news reveals insurer is demanding $11 million from Lance Armstrong

October 23, 2012October 23, 2012 Julie Campbell

After having lost his Tour de France titles, the cyclist’s insurer is now demanding their money back. Though the loss of Lance Armstrong’s seven Tour de France titles when the International Cycling Union (UCI) took them away has been making sports headlines, the cyclist’s insurer is now making insurance news by demanding their money back. SCA Promotions had covered Armstrong’s performance bonuses following the fourth, fifth, and sixth wins. Now that those victories have been taken away, Jeffrey M. Tillotson, the lawyer for SCA Promotions, has stated that “We will…