- 3,863
Umbrellas are so cheap it's amazing anyone with any net worth, even modest would not buy one.
Hulk Hogan Sues Insurance Broker
- Thread starter moonlightandmargaritas
- Start date
- 995
I know, it's also amazing also how many people just buy HO insurance because they have too.
A few years ago a tornado tore through our area killing 25 people and either destroying or badly damaging a few hundred homes. It was amazing to learn the percentage of homes that were either uninsured or badly underinsured. My guess is something like 5-15%.
Not too tough to send out a "this is to confirm that on such and such a date, we discussed, and you are choosing to decline" blah blah something like that.
I have done that many many times, the worst case was a woman with a really bad chronic disease that was only insurable for ltd if she had no flare up for two consecutive years, which she had.
Her response? Her daughter (who was 29 at the time) would take care of her if she really needed it. Good luck with that. You've got to document everything and prepare for the worst!
- Staff
- #15
Hummmmmmmmmm.......illegal activity coverage......
"In a highly publicized 2007 accident, Bollea's son, Nick Bollea crashed his Toyota Supra into a palm tree during a street race in Clearwater. Nick's friend and passenger, Graziano, suffered catastrophic injuries."
"In a highly publicized 2007 accident, Bollea's son, Nick Bollea crashed his Toyota Supra into a palm tree during a street race in Clearwater. Nick's friend and passenger, Graziano, suffered catastrophic injuries."
- 14,808
Yes, can anyone explain this? Nick was incarcerated for use of a motor vehicle in commission of a felony. Would any umbrella policy have covered this?
The other kid's attorney has also charged that the Hogan's divorce is a sham. Linda, apparently, is not on the title which means only Hulk (in theory) is liable. Splitting their assets reduces Hulk's exposure.
The other kid's attorney has also charged that the Hogan's divorce is a sham. Linda, apparently, is not on the title which means only Hulk (in theory) is liable. Splitting their assets reduces Hulk's exposure.
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- 2,455
that's what I was trying to figure out. The articles don't really state the the insurance paid and Hogan picked up the rest of the tab. It just says that he was under insured from what I could gather.
So if the policy did pay I would assume the umbrella would too........
Here is an exclusion from one of our main umbrella issuers.
And I quote exclusion N:
Injury arising our of or while you or any covered person is participating in an organized, unorganized, or prearranged speed contest or race as an operator or accoupant of an Automobile...
Here is an exclusion from another umbrella policy:
other similar competition.
Let me add one more:
Any liability arising out of any
Umbrella number 2 might cover it, but my guess is they'd have a long legal battle. Any race by definition must be preorganzied. Now if you start racing someone that passes you on the freeway you might have an argument. But with both cars starting at a stop, my guess is the company would argue that is preorganized.
I'm no attorney.
Only complete morons street race.
And I quote exclusion N:
Injury arising our of or while you or any covered person is participating in an organized, unorganized, or prearranged speed contest or race as an operator or accoupant of an Automobile...
Here is an exclusion from another umbrella policy:
The use of "autos", "recreational motor
vehicles" or watercraft while they are being
operated in, or practicing for, any prearranged
or organized race, speed contest or
vehicles" or watercraft while they are being
operated in, or practicing for, any prearranged
or organized race, speed contest or
other similar competition.
Let me add one more:
Any liability arising out of any
insured's participation
in, or preparation or practice for any
racing or speed contest or similar competition
racing or speed contest or similar competition
involving amotorized land vehicle ormotorized
watercraft includingpersonal watercraft, regardless
of whether such contest is spontaneous,
prearranged or organized.
watercraft includingpersonal watercraft, regardless
of whether such contest is spontaneous,
prearranged or organized.
My guess is there isn't an umbrella policy that won't exclude racing. That is a risk none would take. Why would you offer liability insurance for street racing? What kind of premiums would Hogan have to pay for that coverage?
Umbrella number 2 might cover it, but my guess is they'd have a long legal battle. Any race by definition must be preorganzied. Now if you start racing someone that passes you on the freeway you might have an argument. But with both cars starting at a stop, my guess is the company would argue that is preorganized.
I'm no attorney.
Only complete morons street race.
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