Re: action: insurance

In article <[EMAIL PROTECTED]>,
 [EMAIL PROTECTED] (Jeff Barnes) wrote:

> Ismaeel Abdur-Rasheed <[EMAIL PROTECTED]> wrote in message 
> news:<[EMAIL PROTECTED]>...
> > insurance - limiting liability for siteowners and particpants
> >
> 
> Iz, 
> 
> I will answer some of your questions in line: 
> 
> > the promise of insurance has been used in marketing rocketry to both 
> > prospective rocketeers as well as to prospective site owner/managers.
> 
> Both NAR and TRA offer insurance coverange to their members as a part
> of their dues. I am not aware of a specific situation where insurance
> coverage was "marketed" to the membership. As far being an
> owner/manager of a given site, I would demand that any group who I
> allowed the use of my facilities/land to obtain insurance for a given
> event. I would imagine that their insurance carrier might even demand
> it.

Would you demand it be valid? Enforceable? Have evidence of coverage?

> 
> I am not aware of TRA/NAR "marketing" their insurance coverage to
> landowners.

Members do, and that is effectively the same thing.

> this is a good idea, please remember, an insurance company is always
> in a position to determine that in the event of a claim, the INTENT of
> the umbrella was to to cover certain activities, and deny coverage. It
> is then up to the policyholder to prove that the insurance company is
> wrong, usually through litigation.
> 
> Since TRA is an international organization, it has a blanket
> commercial liability policy to cover members worldwide.

> Neither NAR or TRA have the financial resources to self insure
> themselves. While the cost of a payout for a claim could be low, the
> possibility of litigation is always present, and can VASTLY increase
> to cost of a potential claim, not to mention the cost involved in
> litigating against a nusicance or an invalid claim. Self insurance
> usually requires financial backing by the owners or members of the
> given self insured entity. Ask any shareholder in Lloyds of London how
> much money they have had to cough up over the last few years to pay
> for losses their organization agreed to accept. Would you like of be
> financially responsible as a member of TRA to pay for a loss when the
> self insured funds were exhausted?

Or the coverage stated to exist proven to be fraudulant or invalid due 
to TRA neglegence, fraud, malice or deceit?

> Both NAR and TRA web sites offer information on their respective
> insurance coverages. Please reference them.

"alleged coverage".

> Jeff Barnes TRA #2267

Jerry

-- 
Jerry Irvine, Box 1242, Claremont, California 91711 USA
Opinion, the whole thing. <mail to:[EMAIL PROTECTED]>
Please bring common sense back to rocketry administration.
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