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Frivolous
and ridiculous lawsuits cost us all
Ever since a New Mexico jury awarded Stella Libeck $2.9
million for spilling a cup on McDonald's coffee on her lap, Stella's name
has been synonymous with outrageous lawsuits and insurance claims.
Here are some that fit and may "steam" you:
Come in out of the rain?
Shawn Perkins of Laurel, Ind. Perkins was hit by lightning in the parking lot Paramount's Kings Island amusement park in Mason, Ohio. A classic "act of God", right? No, says Perkins' lawyer. "That would be a lot of people's knee-jerk reaction in these types of situations." The lawyer has filed suit against the amusement park asking unspecified damages, arguing the park should have "warned" people not to be outside during a thunderstorm.
I could have been a star!
Cole Bartiromo, 18, of Mission Viejo, Calif. After making over $1 million in the stock market, the feds made Bartiromo pay it all back: he gained his profits, they said, using fraud. Bartiromo played baseball at school, but after his fraud case broke he was no longer allowed to participate in extracurricular sports. Bartiromo clearly learned a lot while sitting in federal court: he wrote and filed his own lawsuit against his high school, reasoning that he had planned on a pro baseball career but, because he was kicked off the school's team, pro scouts wouldn't be able to discover him. His suit demands the school reimburse him for the great salary he would have made in the majors, which he figures is $50 million.
My life has gone
to the dogs!
Doug Baker, 45, of Portland, Ore. Baker says God "steered" him
to a stray dog. He admits, "People thought I was crazy" to spend
$4,000 in vet bills to bring the injured mutt back to health, but hey,
it was God's dog! But $4,000 was nothing: he couldn't even take his girlfriend
out to dinner without getting a dog-sitter to watch him. When the skittish
dog escaped the sitter, Baker didn't just put an ad in the paper, he bought
display ads so he could include a photo. His business collapsed since
he devoted full time to the search for the dog. He didn't propose to his
girlfriend because he wanted the dog to deliver the ring to her. He hired
four "animal psychics" to give him clues to the animal's whereabouts,
and hired a witch to cast spells. He even spread his own urine around
to "mark his territory" to try to lure the dog home! And, he
said, he cried every day. Two months into the search, he went looking
for the dog where it got lost -- and quickly found it. His first task:
he put a collar on the mutt. (He hadn't done that before for a dog that
was so "valuable?") After finding the dog, he sued the dog sitter,
demanding $20,000 for the cost of his search, $30,000 for the income he
lost by letting his business collapse, $10,000 for "the temporary
loss of the special value" of the dog, and $100,000 in "emotional
damages" -- $160,000 total. God has not been named as a defendant.
To read more like these go to http://www.stellaawards.com/2003.html
NJ auto insurer may be shut down
"Security
Indemnity Insurance Company doesn't have enough revenue or reserves to
cover about 3,300 claims," according to the State Department of Banking
and Insurance.
Court papers have been filed and if signed will shut down SIIC. Over 6,000 policyholders will then depend on the state's safety net (the Property Liability Guaranty Association) to pay the covered claims.
Commissioner Holly Bakke said, "Security Indemnity is a casualty of bad business decisions made in the context of a dysfunctional auto insurance marketplace."
The financial strength of insurance companies is an important consideration when taking out a policy. We use high-rated carriers. Contact us for details.
State issues "report card" for auto insurers
How well is your carrier performing? The Department of Banking and Insurance has released a report card so you can judge. It ranks the 43 insurers based on valid complaints per 1000 vehicles insured. The higher up on the list, the worse the performance by the carrier.
Another valuable feature of the report is an indicator of financial strength from a national rating agency.
To see the report
http://www.state.nj.us/dobi/acrobat/03ratios.pdf
Horses 20,000,000 — cars 4,000
A factoid from the U.S. Census Bureau — "Today, auto insurance is both a required and major item in the budget of most households. The idea of insuring cars against accidents began in 1898, when Traveler's Insurance Company issued a policy to Dr. Truman Martin of Buffalo."
This policy cost only $12.25 and provided $500 in coverage. Dr. Martin was worried about accidents between his car (one of only 4,000 in the country) and horses (there were 20 million in those days). Now there are over 221 million cars and trucks and less than 2 million horses.
If your business were interrupted, what would you do?
Suppose you had to shut down your business for a while due to fire, accident, or other conditions beyond you control. The revenue you might lose may be substantial.
Some business owners may consider business — interruption (BI) coverage more of a luxury than a necessity. That's often a mistake, because if your business is stopped for a while the lost revenue may never be recovered.
BI insurance compensates the business for lost income and can be structured to cover operating expenses even though there's a temporary halt of business.
We can help you protect against this loss. Just call us and we'll review your needs in a thorough risk assessment.
Put the kids in the back
In a recent news release from the National Safety Council, a disturbing problem still exists — some parents place their children in the front seat in harm's way.
Six percent of children ages 0-12 still sit up front. Rear seats are 35% safer.
"Motor vehicle crashes are the leading cause of death of American children ages 4-15."
Five life-saving guidelines:
1. Children 12 and under should be properly restrained in a rear seat.
2. Infants should be placed in rear-facing, safety seats until they are 12 months old and weigh 20 pounds or more.
3. 1-year old and up and 20-40 pounds (too big for rear-facing seats), should ride in forward-facing safety seats in the rear of the vehicle.
4. Children over 40 pounds should be correctly secured in belt positioning boosters,
5. Once a child reaches 4' 9", adult lap and shoulder belts should fit properly. Be sure they are buckled up in the back.
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Are you using these dangerous products?
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Carbon monoxide alarm — GE Security (Sentrol) — After one year, these units fail to detect carbon monoxide due to a software error. Units with date codes ending in 00T, 01T, and 02T are affected. If you have one contact www.ge-interlogix.com |
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Bowflex Power
Pro® fitness machines — only those with the Lat Tower
attachment have two safety issues — the backboard bench can collapse
and the Lat Tower can rotate and fall causing back, neck and shoulder
injuries. If you have the XTLU, XTL, or XL series and have the Lat Tower attachment, www.bowflex.com |
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Kyocera Smartphones #7135 — Batteries are faulty and can short-circuit posing a burn hazard. If battery product codes end in 05, stop using immediately and call 800-349-4478 |
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