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Expert Analysis

Of Lance Armstrong And Arbitration Panels

Law360, New York (December 13, 2013, 7:23 PM EST) -- On Oct. 29, 2013, a Texas arbitration panel agreed to adjudicate a matter involving a prize insurance firm's attempt to recoup payments made to Lance Armstrong due to his doping confession. SCA Promotions Inc. is a Dallas-based company that offers prize indemnification insurance to athletes. Rather than have a company constantly retain a monetary reserve to cover a prize award (e.g., hole-in-one, half-court shots and home run challenges), this type of insurance collects premiums from the insured company and, in turn, the insurer accepts the responsibility to pay the monetary prize....

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