Hulk Hogan loses lawsuit against Wells Fargo USA

Reported by Earnest I Aguilar Zevallos

The Tampa Bay Tribune newspaper is reporting that a Pinellas County circuit judge has dismissed a lawsuit that Hulk Hogan filed against his insurance company, Wells Fargo USA, following his son's accident claiming that the company provided inadequate coverage and because of that he had to use some of his own money in an out-of-court settlement with the guardian for passenger John Graziano. 

Wells Fargo has covered Hogan for the past ten years with coverage for his homes, boats, watercraft and motor vehicles. Hogan claimed that the company failed to advise him to increase his insurance as his risk grew, especially as his children became teenagers who could drive, his lawsuit said. Hogan said the insurance company never gave him advice on excess. 

In their arguments against Hogan, Wells Fargo said that his now ex-wife Linda handled insurance decisions and either she or her personal assistant repeatedly rejected offers to increase the insurance. The last time Wells Fargo offered a quote for more coverage was four days before the wreck that left Graziano with permanent brain damage, the insurance company's lawyers said in court documents. 

On April 21 during a hearing, Circuit Judge Douglas Baird said he agreed with Wells Fargo and said Hogan's attorneys did not show Wells Fargo failed to live up to its responsibilities as an insurance company. 

After dismissing the lawsuit, Hogan's legal team had a chance to file a new lawsuit but decided to take Wells Fargo up on a proposal to settle the matter with a nominal amount as if he lost again he stood to pay all of Wells Fargo's attorney fees and costs, which is significantly greater.