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Re: [RC] Question for legal eagles/advice from an expert - Dean A. Conti

Chris,

 

I consider myself something of an expert on this subject. My wife and I have owned and operated our own manufacturing business for the past 18 years. Approximately 5 years ago we were sued by a disgruntled employee and we did not have employee practice insurance. Without booooring you with the details let me assure you that you haven’t really lived until you have been dragged through multiple, long depositions by intelligent and well trained lawyers who’s sole purpose is to figure out how to extract as much of your personal wealth as possible. You would also learn that no good deed will be left unpunished. Something you would think would be a positive suddenly turns into a tremendous negative. Alice in Wonderland stuff…

 

An agreement to end the suit was reached and of the $300,000+ that changed hands approximately $145,000 came out of our pocket and almost put us out of business. I have estimated perhaps $85,000 went to the plaintiff; the balance ($215,000) was consumed by the legal system practitioners (lawyers on both sides). Remember the legal system is like any other for profit business in that they are always looking for new “customers” and trying to develop new “markets”.

 

No matter what release has be signed and by whom, you can still be sued and it will be up to you to defend yourself. The clear take-away, IMHO, is to have a LOT of GOOD insurance. This does make you more of a target, but trust me, if you have any assets (house, business, farm) you can’t afford to not have it. We now carry employee practice insurance at the business and have a multi-million dollar liability umbrella coverage on top of our existing auto/homeowners insurance (which, BTW, is surprisingly affordable).

 

Dean

 

 

From: Chris Paus <paus@xxxxxxxxxxx>

Subject: [RC]   question for legal eagles

 

I hope this doesn't start the war back up about whether or not AERC should provide insurance to ride managers....