I’m sure irregardless of coverages he had, if it was less than 1mil, then the plaintiff would have come after him anyway because he’s a celebrity (albeit in is own mind) This would raise the age old saying, “The more you have, the more insurance you need.”
How is the insurer responsible? I can understand an action against an agent’s E&O policy for this type of claim…but the insurer? Can you say simply banking upon jury’s hatred of insurance carriers?
I would imagine that he’s trying to claim bad faith because he was exposed to an excess verdict or settlement due to the company’s inability to properly assess the risk. Weak I know, but I’ve seen weaker in Florida.
Like or dislike “The Wrestler” it goes back to the fact that we insurnace folk need CYA on exposure limits and then let the client sign-off on lower numbers despite the need. That simple CYA would have been a case-dismissing piece of mind to both agency and agent. Draft your hold harmless agreements now ladies and gentlemen. We all know it’s true jurors hate insurance companies you can cut out the case getting to a jury with a little help from your HH agreements and avoid going to the E&O policy fallback.
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Wells Fargo is going to pin him on this deal.
He chose not to buy higher limits, and now he thinks it is somebody elses fault.
WWHHHOOOOOOOO
His “exposure to risk grew” when his son decided to drive it like he stole it in downtown Clearwater
I’m sure irregardless of coverages he had, if it was less than 1mil, then the plaintiff would have come after him anyway because he’s a celebrity (albeit in is own mind) This would raise the age old saying, “The more you have, the more insurance you need.”
How is the insurer responsible? I can understand an action against an agent’s E&O policy for this type of claim…but the insurer? Can you say simply banking upon jury’s hatred of insurance carriers?
I would imagine that he’s trying to claim bad faith because he was exposed to an excess verdict or settlement due to the company’s inability to properly assess the risk. Weak I know, but I’ve seen weaker in Florida.
Like or dislike “The Wrestler” it goes back to the fact that we insurnace folk need CYA on exposure limits and then let the client sign-off on lower numbers despite the need. That simple CYA would have been a case-dismissing piece of mind to both agency and agent. Draft your hold harmless agreements now ladies and gentlemen. We all know it’s true jurors hate insurance companies you can cut out the case getting to a jury with a little help from your HH agreements and avoid going to the E&O policy fallback.
I say we just put the agent and Hogan into a cage match. Last one standing wins!