Texas Fertilizer Plant Only Carried a 1mil GL

jsbarber12

Expert
51
Wow . This is incredible that , that is all they carried. I'm hoping the agent that wrote this at least tried to convince them that higher coverages were needed. Even my 3 man landscape companies that I write carry 1mil/2mil limits. And this company dealing in hazard material is carrying these BS limits. This amazes me
 
Wow . This is incredible that , that is all they carried. I'm hoping the agent that wrote this at least tried to convince them that higher coverages were needed. Even my 3 man landscape companies that I write carry 1mil/2mil limits. And this company dealing in hazard material is carrying these BS limits. This amazes me

That is just like having no insurance in this case. The poor victims will probably get nothing.
 
The reality is the corporation will simply file BK.

Homeowners Insurance takes care of the houses. And life insurance takes care of the deaths - theoretically.

And just because there was an explosion, doesn't mean there is liability. What if it was arson that couldn't have been stopped?

That being said, $1 million? Are they insane?

Rick
 
The reality is the corporation will simply file BK.

Homeowners Insurance takes care of the houses. And life insurance takes care of the deaths - theoretically.

And just because there was an explosion, doesn't mean there is liability. What if it was arson that couldn't have been stopped?

That being said, $1 million? Are they insane?

Rick

The houses will probably be all covered by homeowners insurance with a few exceptions but how many of the dead will have life insurance?
 
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There's guaranteed to be a few without HO or Life coverage In place. Regardless 1mil is like hulk hogan carrying state mins
 
There's guaranteed to be a few without HO or Life coverage In place. Regardless 1mil is like hulk hogan carrying state mins

I am certain his insurance carrier is glad that it is not more. Can the agent who sold this policy have any exposure for the place being under insured?
 
UNLESS the agent has something in writing from the plant declining a higher limit, I suspect the lawyers for the plant (or one of the affected parties) will be claiming against the E&O of the agent -- hope he recommended a higher limit and the plant declined it in writing!
 
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