ItsBruce
Contributor
I also REALLY like the rescission claim. I only hope I would have thought to include that had I been in Rick's place.
PADI getting sued over Insurance Program
- Thread starter cerich
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It wouldn't shock me at all if it came out of the woodwork that PADI had somehow pushed this under a captive insurance structure. I can't think offhand how they would do it, but they have had longer to think about this than me.
If that is right, then I am quite sure they wouldn't want that to come out in public, but the American discovery process has a way of squeezing these nuggets out.
If that is right, then I am quite sure they wouldn't want that to come out in public, but the American discovery process has a way of squeezing these nuggets out.
If anyone knows where Lesser might have published the response he gave here, complete with the attachments he referenced, please provide us with a link, Thanks.
Phil Ellis
DiveSports.com
Phil Ellis
DiveSports.com
Note to all. The PM"s I'm getting for copies will be answered later this afternoon. I'm at work now and do not have access to the file. As soon as I get home I will send them to you guys. Any requests received after say 5pm tonite will not get sent until later on saturday. Friday evening belongs to me and my GF. Thanks for understanding. And second Phil's request- Good talking to you last night by the way!
santafejoe
Contributor
Very interesting.
Rescission. What it basically means is that if a contract was entered into in reliance upon an untrue statement, basically the contract should be undone (rescinded) and the parties should get their money back.
There could possibly be an interesting side effect that relates to the timing of this lawsuit.
If PADI is unsuccessful in getting an early dismissal of this suit, we may find that they are unable to offer dive store general liability and property insurance in July of next year. If there is any possibility that this insurance arrangement is a violation of insurance laws, I can't imagine that they would accept another years renewal.
Oh...and if we assume the premise that this type of structure is illegal for general liability and property insurance, and that such a "blanket policy" approach is one that PADI has found to be successful for them; when do we possibly see a similar lawsuit with regard to PADI professional insurance?
Just letting my mind wander.....
Phil Ellis
DiveSports.com
If PADI is unsuccessful in getting an early dismissal of this suit, we may find that they are unable to offer dive store general liability and property insurance in July of next year. If there is any possibility that this insurance arrangement is a violation of insurance laws, I can't imagine that they would accept another years renewal.
Oh...and if we assume the premise that this type of structure is illegal for general liability and property insurance, and that such a "blanket policy" approach is one that PADI has found to be successful for them; when do we possibly see a similar lawsuit with regard to PADI professional insurance?
Just letting my mind wander.....
Phil Ellis
DiveSports.com
Ah, gotcha. I was just skimming the thread and missed that he said rescission, not recession. :doh:
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