Bill Cosby -- Insurance Co. Wants Off the Hook If Sexual Assault Allegations Stick

Bill Cosby is being sued by a company that fears it might be on the hook if the comedian defamed 3 of his accusers by calling their claims BS.

Cosby's homeowners insurance company has filed a lawsuit claiming it has absolutely no duty to pay a judgment stemming from the sexual assault allegations and denials. Many policies cover various misdeeds of the homeowners, but AIG Property Casualty Company says it is not responsible for claims arising out of sexual misconduct.

AIG not only wants to block Cosby, it has also named 3 accusers -- Tamara Green, Therese Serignese and Linda Traitz as defendants. All 3 claim Cosby not only molested them but defamed them when he called them liars.

AIG wants a judge to tell them all ... don't even try to collect a judgment from the company.