Earl Krueger on sat 17 jul 04
A personal opinion statement from a non-lawyer.
But still clay business related.
One day I got a call at work.
"Come to hospital immediately!"
Found wife laying on a table with back of her
thigh split open about 4". Red; like fresh steak.
She had been attacked by a pit bull.
Went to a lawyer. Said he would look into it.
Called us back a few days later. Dog owners
had no insurance, no house, no money. Only
a $400 car that we could have if we wanted it.
For a few hundred dollars we could get a lien
against them. Take anything they ever had.
Good for 10 years.
Lesson:
If you don't have anything and don't expect to,
Why bother with insurance?
Unless, of course you are socially conscious
and accept moral responsibility.
So, how much moral responsibility do you accept?
That's how I determine how much insurance to have.
No more, no less. Trip on a blade of grass in my
lawn and expect to get $5 million and you will be
disappointed. However, your reasonable medical
bills will get paid and there might even be some
left over for klutz re-mediation training.
Having more just makes you a potential target.
And caters to the insurance co./ greedy lawyers.
And makes it easier for juries to award bigger
payments. Which drive up your insurance costs.
Which make possible bigger payments.
A vicious cycle.
At the current escalation rates how long will it be
before small business are in the same boat as
doctors; 1/2 or more of gross income going to
pay for insurance. Would you be able to sell your
pots if you had to double the price, just to pay for
insurance? Isn't it time to do something about
the ridiculously high dollar judgments before
none of us can afford to be in business by ourselves.
Political statement over.
Earl K...
Bothell, WA, USA
Kathi LeSueur on sun 18 jul 04
erkrueger@EARTHLINK.NET wrote:
>
> Having more just makes you a potential target.
> And caters to the insurance co./ greedy lawyers.
> And makes it easier for juries to award bigger
> payments. Which drive up your insurance costs.
> Which make possible bigger payments.>>>
>
My partner' sister did day care in her home for one kid other than her
own. It was a serious injury. The insurance company offer a payment
equivilent to the value of the policy. The parents refused, hired a
lawyer, and ended up settling for the value of the policy. Only since
they hired a lawyer they had to pay a percent to the lawyer. There was
nothing else for them to take from her.
Kathi
Ron Roy on tue 20 jul 04
Hi Earl,
Not much being said about moral responsibility in related posts - thanks
for bringing it up.
Some cities now ban certain breeds of dogs - pit bulls are right at the top
if the list of course.
My point - those of you who are afraid of being regulated - what materials
you can and can't use without being tested, what your ware can be used for
without passing a test, what insurance you must have, maybe even subject to
recalling defective ware - better pay attention to what you and others are
doing.
Industry is regulated - they know they have to do it right - the better we
get at doing it right the better off we will be.
RR
>Unless, of course you are socially conscious
>and accept moral responsibility.
>At the current escalation rates how long will it be
>before small business are in the same boat as
>doctors; 1/2 or more of gross income going to
>pay for insurance. Would you be able to sell your
>pots if you had to double the price, just to pay for
>insurance? Isn't it time to do something about
>the ridiculously high dollar judgments before
>none of us can afford to be in business by ourselves.
>
>Political statement over.
>
>Earl K...
Ron Roy
RR#4
15084 Little Lake Road
Brighton, Ontario
Canada
K0K 1H0
Phone: 613-475-9544
Fax: 613-475-3513
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