Jaguars' Marqise Lee sues Lloyd's of London over loss-of-value policy
Jacksonville Jaguars and former USC wide receiver Marqise Lee has sued Lloyd’s of London after his $4.5 million loss-of-value insurance claim was denied, reports the Orange County Register.
The claim was denied because Lloyd’s of London believed that Lee misled the company about his injury history.
The suit says Lee wants “to make an example of the defendants and in order to deter similar conduct" and says Lloyd’s of London used “repeated delay tactics” in waiting to make a decision about the policy.
Lee was considered a first-round pick entering his junior season at USC in 2013. In his sophomore season, Lee caught 118 passes for 1,721 yards and 14 touchdowns, earning first-team All-America honors and winning the Biletnikoff Award as the nation’s most outstanding receiver.
However, he sprained the medial collateral ligament sprain in his left knee in the fourth game of the 2013 season and missed three games. After Lee finished the year with 57 catches for 791 yards with four touchdowns, Jacksonville selected him in the second round of the 2014 NFL draft.
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[daily_cut.nfl]The insurance policy Lee is trying to collect on covered the difference between his rookie NFL contract and a $9.6 million baseline if he fell in the draft due to injury. He paid a $94,600 premium for the policy before the 2013 season, financing it with a loan based on his future earnings. Lee eventually signed a four-year deal, worth just under $5.2 million with the Jaguars.
According to lawsuit, Lee submitted paperwork two weeks after the draft seeking to collect on the policy, but Lloyd’s of London said this week that Lee hid pertinent medical information about his injury.
Lloyd’s of London refunded Lee's premium, plus interest, and wants a New Jersey court to rule that the policy was never applied.
Lee caught 37 passes for 422 yards and a touchdown in his rookie season with Jacksonville.
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