Insurance Business reports:
The Trump Organization filed a highly exaggerated claim of nearly $1.3 million for damages to a golf course that cost only a fraction of the payout, insiders familiar with the matter have claimed.
Sources that asked not to be identified reached out to Rolling Stone, saying that when a flood occurred at Trump National Golf Club Westchester in Briarcliff Manor, NY in 2011, the company made a claim for almost $1.3 million.
However, the two insiders said that Trump Organization spent only about $130,000 to $150,000 for the actual repairs to the golf course. One of the insiders, a former employee, added that superficial repairs were made to the damaged portions of the golf course, and that the repair work was not even completed.
Read the full article.
The Rolling Stone piece is behind a paywall.
The Trump Organization saw insurance not as an expense, but as a source of profit. A previously unreported $1.3 million payout at Trump’s Westchester golf club shows how this worked.
— Seth Hettena (@seth_hettena) October 31, 2021