The Sentinel recently reported that Travelers Casualty and Surety Company of America has filed a lawsuit against SJ(C?) for $100,000.00. The suit alleges that SJ failed to hold Travelers harmless as per contract. When the Alaska Commission on Postsecondary Education (ACPE) sought to tap the surety bond, Travelers contends that SJ was required to cover the costs. What kind of insurance policy expects the insured to pay the costs?
Here's one possible scenario: ACPE requires surety bond. Travelers says "No way. Not unless you (SJ) indemnify us." SJ says, "well, we need the bond, but can only get one if we agree to not hold Travelers liable for it. OK." This could have happened. After all, SJ would not have been able to continue without it, and Travelers may have felt that SJ was too risky to insure without such a clause.
We'll see where this goes....
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Showing posts sorted by relevance for query travelers. Sort by date Show all posts
Monday, November 5, 2007
Thursday, November 15, 2007
Board of Trustees Update and more...
Kudos to Board members Heather McCarty, Arliss Sturgelewski, and Gary Paxton for publicly speaking about the situation at SJ(C?). It's little and late, but it is an improvement.
The Sentinel spoke with Paxton and Sturgelewski about the recent Trustee meeting. From the article I've gleaned the following:
President Dobler will be retained; I assume everyone else will be unemployed by 11/30.
Certain property will be sold ASAP to meet debt obligations. The property: Incinerator site, Jeff Davis/SMC corner lot, and Sisters Lane lot. The debt: Alaska Growth, IRS, City of Sitka, Staff & Faculty severance and leave.
The intent is to preserve the core of campus in the hope that a new entity will be interested in running and education program there. Paxton stated that preliminary conversations have happened with two organizations.
The article does not address any specifics relating to Hames, the hatchery, or childcare center. I suspect negotiations with each remain active.
I imagine the Board also discussed the lawsuits filed by AGC and Travelers Insurance, but I haven't heard.
...Meanwhile, Chilkat Services has placed an ad in the paper looking for interested folks to rent apartments and houses on campus. Russ Thorpe of Chilkat said that real estate should be coming up for sale shortly, as well.
The Sentinel spoke with Paxton and Sturgelewski about the recent Trustee meeting. From the article I've gleaned the following:
President Dobler will be retained; I assume everyone else will be unemployed by 11/30.
Certain property will be sold ASAP to meet debt obligations. The property: Incinerator site, Jeff Davis/SMC corner lot, and Sisters Lane lot. The debt: Alaska Growth, IRS, City of Sitka, Staff & Faculty severance and leave.
The intent is to preserve the core of campus in the hope that a new entity will be interested in running and education program there. Paxton stated that preliminary conversations have happened with two organizations.
The article does not address any specifics relating to Hames, the hatchery, or childcare center. I suspect negotiations with each remain active.
I imagine the Board also discussed the lawsuits filed by AGC and Travelers Insurance, but I haven't heard.
...Meanwhile, Chilkat Services has placed an ad in the paper looking for interested folks to rent apartments and houses on campus. Russ Thorpe of Chilkat said that real estate should be coming up for sale shortly, as well.
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