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Published: Friday, 4/8/2005

Owens college insurer sues vendor

BOWLING GREEN - A Dallas company that once processed tuition payments for Owens Community College is being sued by an insurance company that claims the Texas firm caused Owens to lose $37,500.

Cincinnati Insurance Co. of Cincinnati filed suit against Virtual Money Inc. in Wood County Common Pleas Court seeking the loss of funds the insurance company paid as a claim to Owens in April, 2004.

According to the complaint, Cincinnati Insurance said Virtual Money agreed to operate a secure Web site for the processing of Owens tuition payments, but breached its contract "by allowing unauthorized transactions to divert funds, causing a loss to Owens in the amount of $37,500.''



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