Terry “Hulk Hogan” Bollea has recently filed an amended lawsuit against Linda, his ex-wife, Wells Fargo Insurance, and Wells Fargo Insurance Services Southeast, and Wells Fargo Insurance Services, USA.
The suit refers to the 2007 incident in which his son, Nick, wrecked his car causing severe injuries to John Graziano. The Graziano family in turn sued Hogan which is when he realized that he was only insured for up to $250,000 in personal liability and that he didn’t have excess coverage. Hogan ended up paying much more than the $250k to the Graziano’s in a settlement.
The suit notes that Linda, who during their divorce proceedings said under oath that she acted as Hogan’s business manager, and the Wells Fargo insurance companies owed Hogan a “fiduciary duty under Florida law to act in his best interest in regard to adequately protecting his assets in the event of a potential third party liability claim against him for automobile accidents involving vehicles own by Hogan.” Basically, it was their job to tell him that he didn’t have enough insurance coverage when he needed it.
Hogan is suing for the full recovery of the excess amount he had to pay the Graziano family.