When Bruce Levenson was a young man, he didn’t have a straightforward career plan. He wasn’t sure if he should pursue writing or business. He attended Washington University (WU) and American University (AU). He earned a Bachelor of Arts degree from WU and a J.D. from AU. Shortly after graduating, he began writing for the Washington Star and Observer Publishing. As much as he loved writing, he felt his passion for business growing. In 1977, he, along with Ed Peskowitz, co-founded United Communications Group. It is a company that he is still co-owns. He is also Director of TechTarget.com.
Bruce is a former owner of Atlanta Spirit, LLC. Atlanta Spirit owns the Atlanta Hawks basketball team and the Philips Arena. Recently, the former owners, a group called AHBE, filed a lawsuit against their former insurance company, New Hampshire Insurance Company. The group claims the insurance company has breached their contract. AHBE believes that their policy had been triggered, but the insurance company, described as AIG, refuses to acknowledge it. AIG stands by their claim that the policy has not been triggered. The policy in question states that AHBE will be covered for certain losses related to employment practices. These practices could include acts such as “wrongful termination” and workplace torts.”
In a recent report by Time Magazine, AHBE has even provided documents showing that a representative of AIG, Danny Ferry, reached a buyout agreement with them on June 22, 2015. Although the amount of the claim is confidential, it is making AIG rethink its policies. Despite being shown AHBE’s documents, AIG continues to holdout payment of AHBE’s coverage. AIG is refusing to participate. AIG is also refusing to acknowledge any discussions had between AHBE and Ferry’s counsel. AIG has yet to offer any explanation for its irrational behavior.