Lloyd's of London and Nasa Sports International are embroiled in a legal battle regarding Nasa's advertising claims that Lloyd's insures their betting accounts, according to a story in Las Vegas Sporting News.
A Lloyd's representative told LVSN that a Lloyd's syndicate had originally insured the physical assets of Nasa in Costa Rica and Panama against political risks, but not Nasa customer accounts. As a result of the advertising claims, Lloyd's has since discontinued their coverage of Nasa.
"Lloyd's has sent me all sorts of lawyers' letters and now I've got major lawsuits, " Nasa owner Greg Champion told LVSN, adding, "But now they are trying to take away our insurance because we advertised."
Lloyd's claims that Nasa breached confidentiality claims and had their lawyers advise Nasa that this automatically terminates both policies.
The full story is on the "Watchdog" page at http://www.lvsn.com.