Survey shows most wealthy people in the United States fear liability lawsuits due to economy

According to a study released by ACE Private Risk Services, the wealthiest families in the United States have a growing concern over the way the uncertain economy may lead to costly liability lawsuits. However, the survey also showed that regardless of this belief, those families with established or emerging wealth have failed to obtain enough liability insurance to properly cover themselves. This indicates a lack of preparation for the lawsuits that they are concerned will occur. This group appears to have a tendency to underestimate how costly these types of…

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Hulk Hogan exposed…are you?

  The former wrestling star, Terry Bollea aka Hulk Hogan, is learning the hard way about proper insurance coverage limits. Hogan’s son was involved in a car accident in 2007 resulting in serious injuries to his passenger, John Graziano. At the time of the incident the Hogan’s only had a limit of $250,000 bodily injury liability…no umbrella or excess liability. Totally exposed and unprotected, a second lawsuit for negligence has been filed on April 22, 2010, now attacking his personal assets.   Many think this situation will never happen to them, plus not many have celebrity status, which…

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