Artie, you are correct, an insurance agent will most likely ALWAYS say yes if you ask them if you need insurance. And here is why, if the agent says no, you don't need it, and you are sued..... guess who most likely gets to pay for the defense of the lawsuit and the penalty awarded in the lawsuit? Not the insurance company, the insurance agent himself/herself will get to write the check.
Of course, initially you will have to pay for everything. But you are extemely upset because your agent told you didn't need any insurance. So you and your attorney decide to sue the insurance agent for all damages, which you will most likely win this case, because the insurance agent should have known better.
With most things you engage in, risks are involved. Also with most of these risk you are given the opportunity to transfer the risk to another party for a fee. This is called insurance, it is up to you, with the advice of your attorney, insurance adviser, etc, etc to determine which of these risk you want to self insure, or transfer to another party.
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Originally Posted by Artie Arndt
I agree this insurance stuff drives me crazy. I found in our case when we operate on city property the city liability will actually cover it. But, any attorney can sue anybody for anything. I would like to know how many dollars are wasted on this crap. I also found if you ever ask an insurance agent if you need insurance the answer is always yes. Kinda like asking the orthodontist if you need braces, YES. Has anybody ever witnessed a lawsuit in the competitive fishing business. I would like to hear about it. Also, our club formed a corporation which also protected our board members.
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