- 9,744
Have you asked your clients about an umbrella?
Hulk Hogan sues insurance broker for 'malpractice' - St. Petersburg Times
Hulk Hogan sues insurance broker for 'malpractice' - St. Petersburg Times
Hulk Hogan Sues Insurance Broker
- Thread starter moonlightandmargaritas
- Start date
MedMalAgent
Expert
- 60
Along with the umbrella they should have offered higher limits. It is always smart to offer higher limits and keep it in the file.
Interesting if this goes anywhere.
If it does, it implies that to sell an auto policy, you need to do a full financial profile on your clients. Not a bad idea, but a lot of clients won't go for it.
I'm sure 'Hulk' has a financial advisor, who should have advised him of this risk. Of course, the accident was caused by street racing, which is probably an excluded event (i.e., participating in illegal activities). Not sure if an umbrella would help.
Also, in a wild guess (I don't know their rules), I doubt he is eligible for an umbrella through Wells Fargo. Most carriers won't write celebrities. Why offer something you can't provide? Or is the case that he should have been advised to get one, regardless of how he gets it?
Dan
If it does, it implies that to sell an auto policy, you need to do a full financial profile on your clients. Not a bad idea, but a lot of clients won't go for it.
I'm sure 'Hulk' has a financial advisor, who should have advised him of this risk. Of course, the accident was caused by street racing, which is probably an excluded event (i.e., participating in illegal activities). Not sure if an umbrella would help.
Also, in a wild guess (I don't know their rules), I doubt he is eligible for an umbrella through Wells Fargo. Most carriers won't write celebrities. Why offer something you can't provide? Or is the case that he should have been advised to get one, regardless of how he gets it?
Dan
- 2,455
I'm glad I'm not that guy if he does. Realty is his son was doing something illegal. If you can't do the time, don't do the crime.
I don't think Hulk is the sharpest knife in the drawer and I have seen people like him who don't follow council even when they are given good council.
The way this guys life has been going, he doesn't need an umbrella, he needs a tent and a rubber suit. It also wouldn't hurt for him to body slam that kid of his.
This case is going nowhere and it is just some lawyer trying to make another buck.
- Thread starter
- #6
- 9,744
Terry may not be the sharpest tool in the shed, but he probably knows that in this context, the word is "counsel" -brother.
I wouldn't bet the farm on that.
There are many legal precedents where if someone holds themselves out to be an "expert" (even if they are an insurance broker!), they can be held to a higher standard.
If the broker didn't offer, and document offering higher levels/umbrella - it's a slam dunk e&o claim.
If they offered them, and the Hulkster didn't accept, that's a LOT different then never offering - brother.
Moonlight is correct.
The insurance agent better have some good documentation on file. Can't rely on Terry to recall a conversation where he said "I don't need it" but Terry will also have some recourse against his other advisors, most likely.
Makes you wonder, but then, not really.
The insurance agent better have some good documentation on file. Can't rely on Terry to recall a conversation where he said "I don't need it" but Terry will also have some recourse against his other advisors, most likely.
Makes you wonder, but then, not really.
- 2,455
I agree with Moonlight but I would be willing to bet the insurance company gets off the hook. I doubt just any insurance agent was covering the Hulk or was assigned the case. I say the insurance company comes up wit the proof required if I was a betting man.
He is also suing his other lawyers that were representing him for supposedly overcharging him on another matter. Worth a shot though, to sue, what does he have to lose unless the insurance company counter sues for expenses or whatever.
Will be interesting to see where this goes.
He is also suing his other lawyers that were representing him for supposedly overcharging him on another matter. Worth a shot though, to sue, what does he have to lose unless the insurance company counter sues for expenses or whatever.
Will be interesting to see where this goes.
- 995
How are you supposed to record that? Have everyone of your customers sign something that says they rejected an umbrella policy?
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