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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
Tags >> High net worth clients

Hulk Hogan looking to body-slam Wells Fargo

Posted by RJ and Makay on Oct 06, 2010
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According toHulkHogansImage an article recently published on InsuranceJournal.com, insurance agents have a lot to learn from Hulk Hogan and the downsides of selling coverage to wealthy clients.

The well-known, ex-professional wrestler turned reality TV star is suing his insurance broker, Wells Fargo. Hogan alleges the broker failed to properly minimize his liability; thus, causing him financial hardship.

The suit is based on a 2007 accident involving Hogan’s son, Nick, who crashed his car while street racing—leaving his passenger, John Graziano, with traumatic brain injury.

The suit left Hogan's personal fortune of $30 million exposed. And, after exhausting the $250,000 injury limit on Hogan's auto insurance policy, Graziano and the Hogan family reached an out-of-court settlement for what is expected to be life-long medical care for Graziano.