Liability with buddies

[Charlie59]

Thus why I always carry alien obduction and asteroid disruption insurance, wouldn't want to be to cavelier.

Although I must admit I have an umbrella policy to cover my modest ***...assets.

 

[H2Andy]

what's the asteroid disruption insurance for?

 

[Jcsgt]

Thus why I always carry alien obduction and asteroid disruption insurance, wouldn't want to be to cavelier.

Although I must admit I have an umbrella policy to cover my modest ***...assets.

Would those be internal or external asteroids?

 

[PenguinAdLitem]

Up here where the water is cool and comfortable and the laws often sane, we use a modified English rule - prevailing party gets attorney fees from the bloodsucking PI attorney who brought the case. Moreover, early settlement offers can change the fee payout in interesting and helpful ways. These rules are not discretionary.

It does not stem the tide of frivolous lawsuits, but it weakens it somewhat. The plaintiffs are often judgment-proof ("can't bleed a stone,") so getting a judgment for attorney fees from them is pretty close to meaningless. On the other hand, every resident of the state participates in a fund based on oil revenues by receiving a yearly dividend. You can attach and garnish that dividend. In just 80 short years, your fee judgment will be paid off.

I'll tell you a secret. Your ugly lawyer fees get paid by your insurance company if the company has a duty to defend and a reason not to settle. One way to protect yourself is to get an umbrella policy for several million dollars. They are very cheap. The result is that the insuror is exposed for millions of dollars of loss in the event that they lose the spurious lawsuit - thus, they will fight kill and die to avoid losing that suit. Good PI lawyers know this, and know they will have to invest a _lot_ to beat the insurance company's hired guns.

 

[Charlie59]

I have asteroid insurance in case a comet hits my reg or the dive boat. I get my whole fee back for the nitrox portion of my dive. Both internal and external are includecd.

 

[Cacia]

Your ugly lawyer fees get paid by your insurance company if the company has a duty to defend and a reason not to settle.

My impression from physicians was that often the insurance company settles even though the physician was at no fault what-so- ever.

When someone searches a doctor's lawsuit history, often the best surgeons in the country at tertiary care centers have the most lawsuits just by virtue of the fact they have the most bad outcomes directly related to the acuity level they treat.


different poster--

I still say the whole thing stinks, and that those lawyers who use the system to seek riches through legal theft are loathsome vampires, and a blight on our society. I do not include all, or even most, lawyers in that category.
I vastly prefer the British system, where if you do sue and lose, you pay the other guy's costs. This does indeed make people think twice before pulling the trigger.

yes, the British system is a great model for tort reform, IMO.

Just the other day...a lawsuit was settled on a diver death here. She was a physician, grossly over weight, had a heart attack. You would think that would be the end of it. But no, the settlement was a portion against the operator (one of the safest, most conservative ones IMO) and a larger portion against the BC manufacturer. On examination, it was found to have a small leak. (still functional) Frightening. The whole litigation thing has become a giant crap shoot.

They said if the instructor had had fewer than eight, it would have been less likely. I was under the impression that he was leading certed divers and was within standards. At some point, you just throw your hands up. And come on...how many rental bc's could have a slow leak? Probably 20% of them out there would not hold air overnight, but are still functional. Me, I am scared of lawyers.

 

[Scubagolf]

I think everyone on this board is in greater danger of getting into a car accident, turning a perfectly healthy M.D. into a quadraplegic, and getting sued for big bucks than ever being sued on a diving related claim. I carry personal umbrella (excess) liability insurance with sufficiently large limits to satisfy ANY claim, and then I DRIVE and DIVE without worrying about it. Consult with your personal insurance agent to see about having adequate primary and excess liability coverage. (BTW, I am not in the insurance business.)

 

[Scubagolf]

My impression from physicians was that often the insurance company settles even though the physician was at no fault what-so- ever.

In reality, nearly all medical malpractice insurance policies have a clause whereby the insured physician must give his or her consent to settle the lawsuit. Many medical malpractice cases end up going to trial simply because the doctor has refused to consent to a proposed settlement.

 

[Cacia]

well, if your reputation, pride, and principle was at stake, would you not be reluctant to "settle"?

I feel for these guys myself. I imagine it is easier to settle. But how does that drive the equation in this country?

Sorry, I don't buy into the insure yourself and don't worry. I am sure the insurance companies and PI attorneys would love that. That is a big part of what has gotten us here... the moral inertia of it all.

 

[Scubagolf]

well, if your reputation, pride, and principle was at stake, would you not be reluctant to "settle"?

Absolutely. That's precisely why the policies have the "consent to settle" provision. Insurance carriers hate it.

Sorry, I don't buy into the insure yourself and don't worry. I am sure the insurance companies and PI attorneys would love that. That is a big part of what has gotten us here... the moral inertia of it all.

It's the same issue with auto insurance. If you are judgment proof, without substantial assets, you won't likely be the target of a lawsuit. On the other hand, if you have a substantial net worth or current substantial earning power, protecting yourself with adequate insurance is, IMHO, the way to go.