ORIGINAL: EASYTIGER
I'm not sure I trust Horrace's data here at all. He may be misinterpreting some info.
The claims you are talking about, are you meaning claims that actually went to the insurance company? Or are you including the self-insured ones that were below $250k? Because I find it VERY had to beleive there were only 4 medical claims in one year, with all the props biting fingers and all...
Can you define your terms, here?
Hoss,
I don't see what the 49 broken windshields and paint dings (which AMA paid themselves because they NEVER reach the threashold where the insurance company sees them) have to do with the original premise about most claims paid by the insurance company being slip and fall?????
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Jerry N
Slip and Fall may be true in the
medical claim department, but it is a myth concerning the number of
LIABILITY claims. There is one historical case that is used to propogate the myth, mainly because of the $$ amount of such settlement. IIRC the big one was a settlement that later was revised in an incident of a CL speed model leaving the lines and hitting a helper. That one received considerable attention.
So you guys take note of my information which used the term,
LIABILITY CLAIMS. Like in old military exams: RTFQ or in this case read the ----ing statement! Like EACH word.
From AMA web site:
>>>>>>>>
2005 Financial Insurance Summary
Liability Premium 63.9% $968,913.03
Fire, Theft & Vandalism Premium 0.5% 8,061.25
Accident/Medical Premium 7.0% 106,000.00
Paid Claims/Legal Expenses 28.6% 433,340.23
GRAND TOTAL $1,516,314.51
• Protecting AMA members or clubs and site owners who are subject of lawsuits brought forth against them by injured parties. Many times amounts are far in excess of any available homeowner’s insurance. Without adequate insurance, those members and clubs (including club officers in some instances) may be personally liable to injured persons and that may expose personal assets to court judgments that could affect the financial future of members or clubs.
• Approximately 70-80% of the amounts paid for these claims are paid to AMA members or their respective families for their injuries. Without AMA insurance the compensation to injured members may be inadequate or perhaps nonexistent.
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ET, if the data is wrong then so is the AMA as I only copy what they place for members to read.
Edit to cover a big BOO BOO for clicking the send OK prior to finishing the post.[:'(]