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Getty Images Letter Forum / Re: Cyber Liability Insurance
« on: June 23, 2012, 04:02:26 AM »
Take it from me , liability insurance may be a good thing for a "disaster" but it definitely promotes something other than the right thing like troll food. In medicine, it took me years to learn not to report every patient who was a little upset at something and threatened law suit. What would happen was I would report it like a scared rabbit, then this law firm would get assigned the "non case" by the insurance company and they had to earn their 25,000 for the firm and the opposing law firm would also earn their 25,000. Then they would settle when there was not a case to begin with, making me look bad. Once I learned to tell the lawyer who called me about Mr or Miss expect too much, that "NO I was not going to report the alleged made up story of how bad I was to a malpractice carrier and if they thought they REALLY had a malpractice case then SUE me ---I never would hear from them again. I don't commit malpractice and once that incentive to earn 25,000 went away from either my assigned lawyer or opposing council so did the allege malpractice claims. Like Duh,,,,Simple. I do carry malpractice in case some thing major would happen, BUT not for the nuisance value of feeding lawyers ( sorry Oscar). That took me ten years to learn unfortunately and a lot of trouble with petty crap.
The problem is with business insurance, the person who has the insurance usually does not have the provision like I do in medical malpractice where one can report or not report it to the carrier and it does not affect the payout. In business insurance if you do not report a claim then the carrier may be off the hook, not true with my malpractice carrier. I have that provision to settle or not --- My decision.
The problem is with business insurance, the person who has the insurance usually does not have the provision like I do in medical malpractice where one can report or not report it to the carrier and it does not affect the payout. In business insurance if you do not report a claim then the carrier may be off the hook, not true with my malpractice carrier. I have that provision to settle or not --- My decision.