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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Water safety must be continued throughout the length of the season

Even though the summer is on its way to a close, it remains just as important to keep up proper water safety efforts as it was at the very beginning of the season and at its hottest points. According to the coordinator for the Safe Kids of Douglas County, Meaghan Tilton, the second most common cause of death among children between the ages of 1 and 4 is drowning. She explained that “We’re focusing on pool safety because that’s where younger children are most likely to drown.” The program is…

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Basic highlights on top four insurance companies to help consumers

Throughout the financial crisis over the last few years, a number of insurance companies faced a significant struggle, leaving people to wonder about the top insurers after having seen the global giant American International Group (AIG) fall apart.  In order to help consumers to better understand the current the insurance marketplace, experts have compiled some notes about the top four leading companies.  Progressive is among the biggest American auto insurance companies.  It provides standard vehicle insurance as well as products for specialty vehicles such as ATVs, mobile homes, motorcycles, boats…

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Hogan’s malpractice suit gets thrown out

Wells Fargo Insurance Services Inc. in Florida has been sued for business malpractice by celebrity Hulk Hogan. Mr. Hogan (real name Terry Bollea) sued Wells Fargo for failing to protect his assets properly, by providing him with an umbrella policy. Mr. Hogan was sued over an auto accident his son had in 2007, which left a passenger in his car with permanent brain damage. Even though both vehicles involved in the accident were his own; his vehicles’ insurance maximum payment was 250 thousand, per vehicle. With inadequate coverage, he was…

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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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