Former professional wrestler Hulk Hogan holds his insurance company partly responsible for failing to upgrade his coverage policy and filed an insurance malpractice complaint against the company.

Hogan, a retired professional wrestler whose real name is Terry Bollea, filed a lawsuit Wells Fargo Southeast for not providing him with an umbrella policy which would have better protected his teenage son in a car wreck, the Tampa Bay Tribune reports.

Hogan’s attorney Wil Florin said that by law, insurance brokers are required to advise their clients with a high net worth and recommend an umbrella policy. As a result, he argues that the incident was broker malpractice, as Hogan was purportedly unaware he needed such a policy.

Hogan had third-party auto liability insurance with a $250,000 limit per person injured, which exposed him to personal liability in settling a case in which his son was found at fault in a crash which caused a severe brain injury to a close friend. 

For nearly a decade, the insurance company provided coverage for his homes, boats, watercraft and motor vehicles.

But the malpractice complaint claims that at the very least, a yearly or biannual insurance review with Hogan should have included professional advice and coverage recommendations.

In addition, “…Each time a teenage driver, a vehicle, a watercraft or a piece of real estate was added to Hogan’s insurance policies, Hogan’s risk increased; however, his insurance coverage remained woefully inadequate, and Wells Fargo Southeast still failed to consult Hogan regarding the advisability of increased coverage and an excess/umbrella policy,” the lawsuit says.

Hogan’s son, Nick Bollea served 166 days in jail after he pleaded no contest to a reckless driving charge. His friend, John Graziano suffered a severe brain injury.

  • Hulk Hogan sues insurance broker for ‘malpractice’ (tampabay.com)
  • Hulk Hogan: My Insurance Co. Screwed Me  (TMZ)
  • The FindLaw Accident, Injury and Tort Law Blog (FindLaw)
  • Insurance Claim Dos and Don’ts (provided by Ronald D. Michael, P.A.)
  • Types of Bad Faith Insurance Claims (provided by Charles J. Surrano III)

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