09-14-2005, 03:21 PM
whyBish,Sep 14 2005, 12:27 AM Wrote: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).
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Hehe, but if that company (the underwriter) also goes under, it can't pay the claim, and they are euchered, right?
Wrong.
I imagine most of the directors hire clever enough accountants and attorneys to get their hands on as much of the assets as they can, screw the policy holders.
Occhi
Cry 'Havoc' and let slip the Men 'O War!
In War, the outcome is never final. --Carl von Clausewitz--
Igitur qui desiderat pacem, praeparet bellum
John 11:35 - consider why.
In Memory of Pete
In War, the outcome is never final. --Carl von Clausewitz--
Igitur qui desiderat pacem, praeparet bellum
John 11:35 - consider why.
In Memory of Pete