Riddell Sues Insurers For Failing To Pay Concussion Damages
CNBC Sports Business Reporter
The dollar figure on concussion-based lawsuits continues to mount by the day. On Thursday, the NFL’s official helmet maker Riddell, filed suit in California against those that had insured its business with the league and are failing to indemnify the company against these claims.
More than 1,000 former NFL players have been part of concussion-based lawsuits against the league.
Riddell says it is included in seven of those suits.
The brand references that seven lawsuits brought on by former players, part of only a group of more than 1,000 players who have been part of concussion suits, sought damages from Riddell. The company alleges that three of nine insurers, Lumbermens, American Home and Columbia Policies are failing to defend Riddell against the claims, either refusing to acknowledge coverage or saying that the liability doesn’t fall within its coverage terms.
Riddell had policies with Lumbermans from 1959 to 1962, with American Home from 1968 to 1974 and Columbia from 1979 to 1980.
Questions? Comments? SportsBiz@cnbc.com