Oklahoma State Loses Appeal on Insurance Dispute
March 20, 2013

A federal appeals court has upheld a lower court's ruling that Oklahoma State University isn't entitled to refunds from a controversial insurance-based fund-raising campaign that didn't work out as planned, The Stillwater NewsPress reported. The idea was to take out life insurance policies on wealthy supporters of the university's athletics program, with the athletics program as the beneficiary. When the supporters didn't die on roughly the expected timetable, however, the university canceled the policies and sued the insurance company, saying it hadn't provided accurate information. But a district court judge and now the U.S. Court of Appeals found no evidence of fraud by the insurance company.

 

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