09-14-2005, 06:27 AM
Occhidiangela,Sep 13 2005, 07:39 AM Wrote:Insurance is shared RISK, it is not a guarantee of anything. I understand how corporation and limited liability work, thanks. I'd rather see my suggestion undertaken as a remedy than some "government bail out" crap like the idiocy we got bilked into by GHW Bush on the Savings and Loan bailout. ( I am still steamed about that, given the number of white collar board members, managers, etc who got off scott free and kept their limos . . .
Occhi
[right][snapback]88887[/snapback][/right]
You realise that, ironically in the insurance company case, that almost all directors of companies have "directors indemnity insurance", paid for by the company, which covers litigation for all but malpractice.
So directors have (at least) two levels of protection (LLC and insurance).