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From: wall@fortune.UUCP (Jim Wall)
Newsgroups: net.flame
Subject: Re: Liability Lawsuits Getting Out of Ha
Message-ID: <5408@fortune.UUCP>
Date: Tue, 30-Jul-85 12:34:28 EDT
Article-I.D.: fortune.5408
Posted: Tue Jul 30 12:34:28 1985
Date-Received: Wed, 31-Jul-85 20:12:36 EDT
References: <743@infopro.UUCP> <6700023@pbear.UUCP>
Reply-To: wall@fortune.UUCP (Jim wall)
Organization: Fortune Systems, Redwood City, CA
Lines: 24


   I spent some time talking to a person who owns a hot
springs in Orange County (Los Angeles to you outsiders) and
he was telling me about the impending doom facing us. The 
insurance companies are cancelling almost all of the liability
policies when their current term ends. This will almost force
all public businesses to close out of fear of loosing everything.

    As an example, Orange County ha their policy cancelled. And 
they couldn't find anyone to underwrite a new one. Finally they
found one company that would. The terms?  It was a $5 million
maximum, $1 million deductable, and the yearly cost is $500,000.

    Luckily there are a few bills in the California congress that 
may just make the insurance companies back off a little. One deals
with suing based on the percentage ownership (so you can no longer
sue B of A for everything, if they only own 1% of the company you
are suing, which is what is done today). The other looks at the 
responsibility of the person suing. If they are breaking the law
when they are injured, they may not be able to sue for damages.

   These laws sound so reasonable, I'm sure they won't pass...

					-Jim