From dswajda at comcast.net  Thu Mar 30 11:46:22 2017
From: dswajda at comcast.net (dswajda at comcast.net)
Date: Thu, 30 Mar 2017 17:46:22 +0000 (UTC)
Subject: [Board-2017] Insurance Review
In-Reply-To: <CAEYcus96EGY+EVmo9_S9dcYU11gQWMyn2RmnkHnTH3OOSJ9o9g@mail.gmail.com>
References: <331537012.91099833.1490808407376.JavaMail.zimbra@comcast.net>
	<2016895357.91112891.1490810330698.JavaMail.zimbra@comcast.net>
	<00cc01d2a8cc$6b33b030$419b1090$@blueberrybayfarm.com>
	<CAEYcus96EGY+EVmo9_S9dcYU11gQWMyn2RmnkHnTH3OOSJ9o9g@mail.gmail.com>
Message-ID: <1401353699.92298744.1490895982423.JavaMail.zimbra@comcast.net>

Nancy, 
Your are correct in your assessment. The firm will be putting the dollar amount on their "time". 

I just want to remind the board that we did discuss just increasing the the coverage. We then conversed as to how much is or would be enough if we were sued. I believe I did inform the board that I discuss this with Capt. Nadeau and he said if the cost for additional coverage was reasonable then increase the amount. I followed the board's request to look into the cost of reviewing our coverage and have them make an assessment and recommendations. The current cost for $3,000,000 is $5,130.00 and if increased to $5,000,000 it would be $7,130.00, a $2,000 increase. Please advise which course of action the board wants to take - 

David Wajda 
Commodore 

----- Original Message -----

From: "Nancy Gulley" <nancgulley at gmail.com> 
To: "Board of Directors" <board at portsmouthyc.org>, info at blueberrybayfarm.com 
Sent: Wednesday, March 29, 2017 9:03:00 PM 
Subject: Re: [Board-2017] Insurance Review 

Quick question... The $1500 is a retainer. As I read your info Dave - I understand that once they see the. info they will then inform us how much more It could cost. Is this correct? I think I agree with Ron. Perhaps just increasing the board and clubs coverage to $5 million would work. 
Nanc 

On Wed, Mar 29, 2017 at 4:39 PM Ron Laurence - Blueberry Bay Farm < info at blueberrybayfarm.com > wrote: 





Dave: 

I very much appreciate your pursuing and efforts so far in this matter, that I brought up. However, while I am not an insurance expert, or an attorney, I’m not sure that a review of our liability insurance by an attorney is money well spent. According to paperwork from Joe Cunningham, I’m confident that the club and its officers and directors are protected on liability claims up to $3million. What I’m deeply worried about is a claim, and later an award by a judge or jury, exceeding $3M , in a case where particularly a child, but even an adult for that matter, lost his/her life, because ambulance-chasing personal liability lawyers for the plaintiff convinced them that the club was negligent. Remember, a yacht club, and its officers and directors are perceived to be wealthy and this would no doubt enter into a judge’s decision into making an award. I believe, in the case of whomever of the officers and directors have net worth over $3M, that it’s a simple fact that these individuals are not adequately protected and that their assets are at risk. While most likely no one wants to reveal their personal wealth, perhaps if we simply polled the board to find out if increasing our coverage to say $5M or some other number is adequate, and with a unanimous vote, then ask Joe what the cost would be. [and by the way, I have a suggestion as to how we could pay for the increase]. I think the club has an obligation to both its current and future officers and directors that they are protected in the case of such an unlikely event. 




Ron Laurence 

Blueberry Bay Farm 

38 Depot Road 

Stratham, NH 03885 

603-580-1612 

www.blueberrybayfarm.com 





From: Board [mailto: board-bounces at portsmouthyc.org ] On Behalf Of dswajda at comcast.net 
Sent: Wednesday, March 29, 2017 1:59 PM 
To: Board PYC < board at portsmouthyc.org > 
Subject: [Board-2017] Insurance Review 





I have been in contact with the firm of Drummond Woodsum, 84 Marginal Way, Suite 600, Portland, ME 04101-2480. Local telephone number is 603-433-3317. I talked with Atty. Tom Watson who actually lives in Portsmouth on New Castle Avenue. He related that a review could take between 3-5 hours and the firm would be asking for a $1500 retainer. Once the paperwork was received, they would review and make a determination of approximate cost. They would send a letter outlining their scope of work and the cost and then ask if we wanted them to proceed. 





I would suggest that they review our Constitution and By-Laws regarding ARTICLE XVII - Indemnification of Directors, Officers, Agents and Employees to determine if it is sufficient. 





I twice tried contacting the firm of Pierce Atwood at 1 NH Avenue, #350, Portsmouth, NH but was unable to make contact through their automated system. 





Please advise if you want to proceed - I gather I am requesting permission to spend $1500 to retain the services of Drummond Woodsum to review our insurance/liability coverage and our Constitution regarding Indemnification. 





David Wajda 


Commodore 




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From typhoonyoung at comcast.net  Thu Mar 30 12:02:12 2017
From: typhoonyoung at comcast.net (C. ANTHONY YOUNG)
Date: Thu, 30 Mar 2017 20:02:12 +0200 (CEST)
Subject: [Board-2017] Insurance Review
In-Reply-To: <1401353699.92298744.1490895982423.JavaMail.zimbra@comcast.net>
References: <331537012.91099833.1490808407376.JavaMail.zimbra@comcast.net>
	<2016895357.91112891.1490810330698.JavaMail.zimbra@comcast.net>
	<00cc01d2a8cc$6b33b030$419b1090$@blueberrybayfarm.com>
	<CAEYcus96EGY+EVmo9_S9dcYU11gQWMyn2RmnkHnTH3OOSJ9o9g@mail.gmail.com>
	<1401353699.92298744.1490895982423.JavaMail.zimbra@comcast.net>
Message-ID: <809788413.30521.1490896934638@connect.xfinity.com>

Just  increase  the  coverage. Tony  

 

> On March 30, 2017 at 7:46 PM dswajda at comcast.net wrote:
> 
>     Nancy,
>     Your are correct in your assessment. The firm will be putting the dollar amount on their "time".
> 
>     I just want to remind the board that we did discuss just increasing the the coverage. We then conversed as to how much is or would be enough if we were sued. I believe I did inform the board that I discuss this with Capt. Nadeau and he said if the cost for additional coverage was reasonable then increase the amount. I followed the board's request to look into the cost of reviewing our coverage and have them make an assessment and recommendations. The current cost for $3,000,000 is $5,130.00 and if increased to $5,000,000 it would be $7,130.00, a $2,000 increase. Please advise which course of action the board wants to take -
> 
>     David Wajda
>     Commodore
> 
> 
>     ---------------------------------------------
>     From: "Nancy Gulley" <nancgulley at gmail.com>
>     To: "Board of Directors" <board at portsmouthyc.org>, info at blueberrybayfarm.com
>     Sent: Wednesday, March 29, 2017 9:03:00 PM
>     Subject: Re: [Board-2017] Insurance Review
> 
>     Quick question... The $1500 is a retainer.  As I read your info Dave - I understand that once they see the. info they will then inform us how much more It could cost.  Is this correct?  I think I agree with Ron.  Perhaps just increasing the board and clubs coverage to $5 million would work.
>     Nanc
>      
>     On Wed, Mar 29, 2017 at 4:39 PM Ron Laurence - Blueberry Bay Farm <info at blueberrybayfarm.com mailto:info at blueberrybayfarm.com > wrote:
> 
>         > > 
> >         Dave:
> > 
> >         I very much appreciate your pursuing and efforts so far in this matter, that I brought up. However, while I am not an insurance expert, or an attorney, I’m not sure that a review of our liability insurance by an attorney is money well spent. According to paperwork from Joe Cunningham,  I’m confident that the club and its officers and directors are protected on liability claims up to $3million.  What I’m deeply worried about is a claim, and later an award by a judge or jury, exceeding $3M,  in a case where particularly a child, but even an adult for that matter, lost his/her life, because ambulance-chasing personal liability lawyers for the plaintiff convinced them that the club was negligent.  Remember, a yacht club, and its officers and directors are perceived to be wealthy and this would no doubt enter into a judge’s decision into making an award.  I believe, in the case of whomever of the officers and directors have net worth over $3M, that it’s a simple fact that these individuals are not adequately protected and that their assets are at risk.  While most likely no one wants to reveal their personal  wealth, perhaps if we simply polled the board to find out if increasing our coverage to say $5M or some other number is adequate, and with a unanimous vote, then ask Joe what the cost would be.  [and by the way, I have a suggestion as to how we could pay for the increase]. I think the club has an obligation to both its current and future officers and directors that they are protected in the case of such an unlikely event.
> > 
> > 
> >         Ron Laurence
> > 
> >         Blueberry Bay Farm
> > 
> >         38 Depot Road
> > 
> >         Stratham, NH 03885
> > 
> >         603-580-1612http://www.blueberrybayfarm.com
> > 
> >          
> > 
> >         From: Board [mailto:board-bounces at portsmouthyc.org mailto:board-bounces at portsmouthyc.org ] On Behalf Of dswajda at comcast.net mailto:dswajda at comcast.net
> >         Sent: Wednesday, March 29, 2017 1:59 PM
> >         To: Board PYC <board at portsmouthyc.org mailto:board at portsmouthyc.org >
> >         Subject: [Board-2017] Insurance Review
> > 
> >          
> > 
> >         I have been in contact with the firm of Drummond Woodsum, 84 Marginal Way, Suite 600, Portland, ME 04101-2480. Local telephone number is 603-433-3317. I talked with Atty. Tom Watson who actually lives in Portsmouth on New Castle Avenue. He related that a review could take between 3-5 hours and the firm would be asking for a $1500 retainer. Once the paperwork was received, they would review and make a determination of approximate cost. They would send a letter outlining their scope of work and the cost and then ask if we wanted them to proceed. 
> > 
> >          
> > 
> >         I would suggest that they review our Constitution and By-Laws regarding ARTICLE XVII - Indemnification of Directors, Officers, Agents and Employees to determine if it is sufficient.
> > 
> >          
> > 
> >         I twice tried contacting the firm of Pierce Atwood at 1 NH Avenue, #350, Portsmouth, NH but was unable to make contact through their automated system.
> > 
> >          
> > 
> >         Please advise if you want to proceed - I gather I am requesting permission to spend $1500 to retain the services of Drummond Woodsum to review our insurance/liability coverage and our Constitution regarding Indemnification.
> > 
> >          
> > 
> >         David Wajda
> > 
> >         Commodore
> > 
> >     > 
> 
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From glennwmichael at gmail.com  Thu Mar 30 12:51:49 2017
From: glennwmichael at gmail.com (Glenn Michael)
Date: Thu, 30 Mar 2017 14:51:49 -0400
Subject: [Board-2017] Insurance Review
In-Reply-To: <809788413.30521.1490896934638@connect.xfinity.com>
References: <331537012.91099833.1490808407376.JavaMail.zimbra@comcast.net>
	<2016895357.91112891.1490810330698.JavaMail.zimbra@comcast.net>
	<00cc01d2a8cc$6b33b030$419b1090$@blueberrybayfarm.com>
	<CAEYcus96EGY+EVmo9_S9dcYU11gQWMyn2RmnkHnTH3OOSJ9o9g@mail.gmail.com>
	<1401353699.92298744.1490895982423.JavaMail.zimbra@comcast.net>
	<809788413.30521.1490896934638@connect.xfinity.com>
Message-ID: <CAC7tJWY_HNZ_YJNFMm=TU8EnGU82-Vpido4neiyE_HtTD+uVRg@mail.gmail.com>

Hi,

Good conversation on this...thank you.  I have to agree with Tony and
others...just increase the coverage.  We could get into lots of money
dubbing around with lawyers (no disrespect meant for any lawyer).  Up the
coverage and let's press on.

Glenn

On Thu, Mar 30, 2017 at 2:02 PM, C. ANTHONY YOUNG <typhoonyoung at comcast.net>
wrote:

> Just  increase  the  coverage. Tony
>
>
>
> On March 30, 2017 at 7:46 PM dswajda at comcast.net wrote:
>
> Nancy,
> Your are correct in your assessment. The firm will be putting the dollar
> amount on their "time".
>
> I just want to remind the board that we did discuss just increasing the
> the coverage. We then conversed as to how much is or would be enough if we
> were sued. I believe I did inform the board that I discuss this with Capt.
> Nadeau and he said if the cost for additional coverage was reasonable then
> increase the amount. I followed the board's request to look into the cost
> of reviewing our coverage and have them make an assessment and
> recommendations. The current cost for $3,000,000 is $5,130.00 and if
> increased to $5,000,000 it would be $7,130.00, a $2,000 increase. Please
> advise which course of action the board wants to take -
>
> David Wajda
> Commodore
>
> ------------------------------
> *From: *"Nancy Gulley" <nancgulley at gmail.com>
> *To: *"Board of Directors" <board at portsmouthyc.org>,
> info at blueberrybayfarm.com
> *Sent: *Wednesday, March 29, 2017 9:03:00 PM
> *Subject: *Re: [Board-2017] Insurance Review
>
> Quick question... The $1500 is a retainer.  As I read your info Dave - I
> understand that once they see the. info they will then inform us how much
> more It could cost.  Is this correct?  I think I agree with Ron.  Perhaps
> just increasing the board and clubs coverage to $5 million would work.
> Nanc
>
> On Wed, Mar 29, 2017 at 4:39 PM Ron Laurence - Blueberry Bay Farm <
> info at blueberrybayfarm.com> wrote:
>
> Dave:
>
> I very much appreciate your pursuing and efforts so far in this matter,
> that I brought up. However, while I am not an insurance expert, or an
> attorney, I’m not sure that a review of our liability insurance by an
> attorney is money well spent. According to paperwork from Joe Cunningham,
>  I’m confident that the club and its officers and directors are protected
> on liability claims up to $3million.  What I’m deeply worried about is a
> claim, and later an award by a judge or jury, exceeding $3M,  in a case
> where particularly a child, but even an adult for that matter, lost his/her
> life, because ambulance-chasing personal liability lawyers for the
> plaintiff convinced them that the club was negligent.  Remember, a yacht
> club, and its officers and directors are perceived to be wealthy and this
> would no doubt enter into a judge’s decision into making an award.  I
> believe, in the case of whomever of the officers and directors have net
> worth over $3M, that it’s a simple fact that these individuals are not
> adequately protected and that their assets are at risk.  While most
> likely no one wants to reveal their personal  wealth, perhaps if we simply
> polled the board to find out if increasing our coverage to say $5M or some
> other number is adequate, and with a unanimous vote, then ask Joe what the
> cost would be.  [and by the way, I have a suggestion as to how we could pay
> for the increase]. I think the club has an obligation to both its current
> and future officers and directors that they are protected in the case of
> such an unlikely event.
>
>
> Ron Laurence
>
> Blueberry Bay Farm
>
> 38 Depot Road
>
> Stratham, NH 03885
>
> 603-580-1612 <(603)%20580-1612>
>
> www.blueberrybayfarm.com
>
>
>
> *From:* Board [mailto:board-bounces at portsmouthyc.org] *On Behalf Of *
> dswajda at comcast.net
> *Sent:* Wednesday, March 29, 2017 1:59 PM
> *To:* Board PYC <board at portsmouthyc.org>
> *Subject:* [Board-2017] Insurance Review
>
>
>
> I have been in contact with the firm of Drummond Woodsum, 84 Marginal Way,
> Suite 600, Portland, ME 04101-2480. Local telephone number is 603-433-3317
> <(603)%20433-3317>. I talked with Atty. Tom Watson who actually lives in
> Portsmouth on New Castle Avenue. He related that a review could take
> between 3-5 hours and the firm would be asking for a $1500 retainer. Once
> the paperwork was received, they would review and make a determination of
> approximate cost. They would send a letter outlining their scope of work
> and the cost and then ask if we wanted them to proceed.
>
>
>
> I would suggest that they review our Constitution and By-Laws regarding ARTICLE
> XVII - Indemnification of Directors, Officers, Agents and Employees to
> determine if it is sufficient.
>
>
>
> I twice tried contacting the firm of Pierce Atwood at 1 NH Avenue, #350,
> Portsmouth, NH but was unable to make contact through their automated
> system.
>
>
>
> Please advise if you want to proceed - I gather I am requesting permission
> to spend $1500 to retain the services of Drummond Woodsum to review our
> insurance/liability coverage and our Constitution regarding Indemnification.
>
>
>
> David Wajda
>
> Commodore
>
>
>
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From roysail at hotmail.com  Thu Mar 30 15:07:40 2017
From: roysail at hotmail.com (Roy Briscoe)
Date: Thu, 30 Mar 2017 21:07:40 +0000
Subject: [Board-2017] Insurance Review
In-Reply-To: <1401353699.92298744.1490895982423.JavaMail.zimbra@comcast.net>
References: <331537012.91099833.1490808407376.JavaMail.zimbra@comcast.net>
	<2016895357.91112891.1490810330698.JavaMail.zimbra@comcast.net>
	<00cc01d2a8cc$6b33b030$419b1090$@blueberrybayfarm.com>
	<CAEYcus96EGY+EVmo9_S9dcYU11gQWMyn2RmnkHnTH3OOSJ9o9g@mail.gmail.com>,
	<1401353699.92298744.1490895982423.JavaMail.zimbra@comcast.net>
Message-ID: <BL2PR17MB0803770C901D97D6D09B9A77BC340@BL2PR17MB0803.namprd17.prod.outlook.com>

Things to think about:

Has PYC ever been sued?

And if so, have they ever gone over the insurance limit?


My opinion is the only ones who will make out with us increasing the limit is the insurance company and if someone does sue us they will now get $5M as opposed to $3M. I think they would go after the lowest hanging fruit which is the insurance limit, going after the board members and trying to get a settlement out of them would be a lot of work and in my case a useless effort on their part. $7K a year is a lot of money to spend and not get any return on it. In 10 years we would have spent $70K and have nothing to show for it but a debit record in quickbooks. I don't think it is worth it, and as you can surmise, I pay insurance companies as little as possible.


Remember insurance is gambling, you are gambling you are going to lose, that is why you pay premiums, and the insurance company is gambling they are going to win and the odds are in favor of the house, the insurance company.


Roy


Sent from Outlook<http://aka.ms/weboutlook>


________________________________
From: Board <board-bounces at portsmouthyc.org> on behalf of dswajda at comcast.net <dswajda at comcast.net>
Sent: Thursday, March 30, 2017 5:46 PM
To: Board
Subject: Re: [Board-2017] Insurance Review

Nancy,
Your are correct in your assessment. The firm will be putting the dollar amount on their "time".

I just want to remind the board that we did discuss just increasing the the coverage. We then conversed as to how much is or would be enough if we were sued. I believe I did inform the board that I discuss this with Capt. Nadeau and he said if the cost for additional coverage was reasonable then increase the amount. I followed the board's request to look into the cost of reviewing our coverage and have them make an assessment and recommendations. The current cost for $3,000,000 is $5,130.00 and if increased to $5,000,000 it would be $7,130.00, a $2,000 increase. Please advise which course of action the board wants to take -

David Wajda
Commodore

________________________________
From: "Nancy Gulley" <nancgulley at gmail.com>
To: "Board of Directors" <board at portsmouthyc.org>, info at blueberrybayfarm.com
Sent: Wednesday, March 29, 2017 9:03:00 PM
Subject: Re: [Board-2017] Insurance Review

Quick question... The $1500 is a retainer.  As I read your info Dave - I understand that once they see the. info they will then inform us how much more It could cost.  Is this correct?  I think I agree with Ron.  Perhaps just increasing the board and clubs coverage to $5 million would work.
Nanc

On Wed, Mar 29, 2017 at 4:39 PM Ron Laurence - Blueberry Bay Farm <info at blueberrybayfarm.com<mailto:info at blueberrybayfarm.com>> wrote:

Dave:

I very much appreciate your pursuing and efforts so far in this matter, that I brought up. However, while I am not an insurance expert, or an attorney, I’m not sure that a review of our liability insurance by an attorney is money well spent. According to paperwork from Joe Cunningham,  I’m confident that the club and its officers and directors are protected on liability claims up to $3million.  What I’m deeply worried about is a claim, and later an award by a judge or jury, exceeding $3M,  in a case where particularly a child, but even an adult for that matter, lost his/her life, because ambulance-chasing personal liability lawyers for the plaintiff convinced them that the club was negligent.  Remember, a yacht club, and its officers and directors are perceived to be wealthy and this would no doubt enter into a judge’s decision into making an award.  I believe, in the case of whomever of the officers and directors have net worth over $3M, that it’s a simple fact that these individuals are not adequately protected and that their assets are at risk.  While most likely no one wants to reveal their personal  wealth, perhaps if we simply polled the board to find out if increasing our coverage to say $5M or some other number is adequate, and with a unanimous vote, then ask Joe what the cost would be.  [and by the way, I have a suggestion as to how we could pay for the increase]. I think the club has an obligation to both its current and future officers and directors that they are protected in the case of such an unlikely event.


Ron Laurence

Blueberry Bay Farm

38 Depot Road

Stratham, NH 03885

603-580-1612

www.blueberrybayfarm.com<http://www.blueberrybayfarm.com>



From: Board [mailto:board-bounces at portsmouthyc.org<mailto:board-bounces at portsmouthyc.org>] On Behalf Of dswajda at comcast.net<mailto:dswajda at comcast.net>
Sent: Wednesday, March 29, 2017 1:59 PM
To: Board PYC <board at portsmouthyc.org<mailto:board at portsmouthyc.org>>
Subject: [Board-2017] Insurance Review



I have been in contact with the firm of Drummond Woodsum, 84 Marginal Way, Suite 600, Portland, ME 04101-2480. Local telephone number is 603-433-3317. I talked with Atty. Tom Watson who actually lives in Portsmouth on New Castle Avenue. He related that a review could take between 3-5 hours and the firm would be asking for a $1500 retainer. Once the paperwork was received, they would review and make a determination of approximate cost. They would send a letter outlining their scope of work and the cost and then ask if we wanted them to proceed.



I would suggest that they review our Constitution and By-Laws regarding ARTICLE XVII - Indemnification of Directors, Officers, Agents and Employees to determine if it is sufficient.



I twice tried contacting the firm of Pierce Atwood at 1 NH Avenue, #350, Portsmouth, NH but was unable to make contact through their automated system.



Please advise if you want to proceed - I gather I am requesting permission to spend $1500 to retain the services of Drummond Woodsum to review our insurance/liability coverage and our Constitution regarding Indemnification.



David Wajda

Commodore

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From nancgulley at gmail.com  Thu Mar 30 17:00:40 2017
From: nancgulley at gmail.com (Nancy Gulley)
Date: Thu, 30 Mar 2017 23:00:40 +0000
Subject: [Board-2017] Insurance Review
In-Reply-To: <BL2PR17MB0803770C901D97D6D09B9A77BC340@BL2PR17MB0803.namprd17.prod.outlook.com>
References: <331537012.91099833.1490808407376.JavaMail.zimbra@comcast.net>
	<2016895357.91112891.1490810330698.JavaMail.zimbra@comcast.net>
	<00cc01d2a8cc$6b33b030$419b1090$@blueberrybayfarm.com>
	<CAEYcus96EGY+EVmo9_S9dcYU11gQWMyn2RmnkHnTH3OOSJ9o9g@mail.gmail.com>
	<1401353699.92298744.1490895982423.JavaMail.zimbra@comcast.net>
	<BL2PR17MB0803770C901D97D6D09B9A77BC340@BL2PR17MB0803.namprd17.prod.outlook.com>
Message-ID: <CAEYcus_Wt-Uk8J2y=X90Qdgmf7XgXM0bff9c9QQegag0uX1wAQ@mail.gmail.com>

There are many good ideas out ther right now and perhaps Mike's suggesting
of putting together a committee of " our" lawyers makes sense.  A consensus
that will not cost us a fortune will help us make a decision that does not
include another huge expenditure.
Nanc
On Thu, Mar 30, 2017 at 5:08 PM Roy Briscoe <roysail at hotmail.com> wrote:

>
>
>
>
>
>
>
>
>
>
>
>
>
>
> Things to think about:
>
>
> Has PYC ever been sued?
>
>
> And if so, have they ever gone over the insurance limit?
>
>
>  There right now.  I agree
>
>
>
>
>
>
> My opinion is the only ones who will make out with us increasing the limit
> is the insurance company and if someone does sue us they will now get $5M
> as opposed to $3M. I think they would go after the lowest hanging fruit
> which is the insurance limit, going
>
> after the board members and trying to get a settlement out of them would
> be a lot of work and in my case a useless effort on their part. $7K a year
> is a lot of money to spend and not get any return on it. In 10 years we
> would have spent $70K and have nothing
>
> to show for it but a debit record in quickbooks. I don't think it is worth
> it, and as you can surmise, I pay insurance companies as little as possible.
>
>
>
>
>
>
>
> Remember insurance is gambling, you are gambling you are going to lose,
> that is why you pay premiums, and the insurance company is gambling they
> are going to win and the odds are in favor of the house, the insurance
> company.
>
>
>
>
>
>
>
> Roy
>
>
>
>
>
>
>
>
>
> Sent from Outlook <http://aka.ms/weboutlook>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
> ------------------------------
>
>
> *From:* Board <board-bounces at portsmouthyc.org> on behalf of
> dswajda at comcast.net <dswajda at comcast.net>
>
>
> *Sent:* Thursday, March 30, 2017 5:46 PM
>
>
> *To:* Board
>
>
>
> *Subject:* Re: [Board-2017] Insurance Review
>
>
>
>
>
>
> Nancy,
>
>
> Your are correct in your assessment. The firm will be putting the dollar
> amount on their "time".
>
>
>
>
>
>
>
> I just want to remind the board that we did discuss just increasing the
> the coverage. We then conversed as to how much is or would be enough if we
> were sued. I believe I did inform the board that I discuss this with Capt.
> Nadeau and he said if the cost
>
> for additional coverage was reasonable then increase the amount. I
> followed the board's request to look into the cost of reviewing our
> coverage and have them make an assessment and recommendations. The current
> cost for $3,000,000 is $5,130.00 and if increased
>
> to $5,000,000 it would be $7,130.00, a $2,000 increase. Please advise
> which course of action the board wants to take -
>
>
>
>
>
>
>
> David Wajda
>
>
> Commodore
>
>
>
>
>
>
>
> ------------------------------
>
>
>
>
> *From: *"Nancy Gulley" <nancgulley at gmail.com>
>
>
> *To: *"Board of Directors" <board at portsmouthyc.org>,
> info at blueberrybayfarm.com
>
>
> *Sent: *Wednesday, March 29, 2017 9:03:00 PM
>
>
> *Subject: *Re: [Board-2017] Insurance Review
>
>
>
>
>
>
>
> Quick question... The $1500 is a retainer.  As I read your info Dave - I
> understand that once they see the. info they will then inform us how much
> more It could cost.  Is this correct?  I think I agree with Ron.  Perhaps
> just increasing the board and clubs
>
> coverage to $5 million would work.
>
>
> Nanc
>
>
>
>
>
>
>
> On Wed, Mar 29, 2017 at 4:39 PM Ron Laurence - Blueberry Bay Farm <
> info at blueberrybayfarm.com> wrote:
>
>
>
>
>
>
>
>
>
>
> Dave:
>
>
> I very much appreciate your pursuing and efforts so far in this matter,
> that I brought up. However, while I am not an insurance
>
> expert, or an attorney, I’m not sure that a review of our liability
> insurance by an attorney is money well spent. According to paperwork from
> Joe Cunningham,  I’m confident that the club and its officers and directors
> are protected on liability claims up to
>
> $3million.  What I’m deeply worried about is a claim, and later an award
> by a judge or jury,
>
> exceeding $3M,  in a case where particularly a child, but even an adult
> for that matter, lost his/her life, because ambulance-chasing personal
> liability lawyers for the plaintiff convinced them
>
> that the club was negligent.  Remember, a yacht club, and its officers and
> directors are
>
> perceived to be wealthy and this would no doubt enter into a judge’s
> decision into making an award.  I believe, in the case of whomever of the
> officers and directors have net worth over $3M, that
>
> it’s a simple fact that these individuals
>
> are not adequately protected and that their assets are at risk.  While
> most likely no one wants to reveal their personal  wealth, perhaps if we
> simply polled the board to find out if increasing our coverage to say $5M
> or some other number is adequate,
>
> and with a unanimous vote, then ask Joe what the cost would be.  [and by
> the way, I have a suggestion as to how we could pay for the increase]. I
> think the club has an obligation to both its current and future officers
> and directors that they are protected
>
> in the case of such an unlikely event.
>
>
>
>
>
>
>
>
>
> Ron Laurence
>
>
> Blueberry Bay Farm
>
>
> 38 Depot Road
>
>
> Stratham, NH 03885
>
>
> 603-580-1612
>
>
> www.blueberrybayfarm.com
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
> *From:* Board [mailto:board-bounces at portsmouthyc.org]
>
> *On Behalf Of *dswajda at comcast.net
>
>
> *Sent:* Wednesday, March 29, 2017 1:59 PM
>
>
> *To:* Board PYC <board at portsmouthyc.org>
>
>
> *Subject:* [Board-2017] Insurance Review
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
> I have been in contact with the firm of Drummond Woodsum, 84 Marginal Way,
> Suite 600, Portland, ME 04101-2480. Local telephone number is 603-433-3317.
>
> I talked with Atty. Tom Watson who actually lives in Portsmouth on New
> Castle Avenue. He related that a review could take between 3-5 hours and
> the firm would be asking for a $1500 retainer. Once the paperwork was
> received, they would review and make a determination
>
> of approximate cost. They would send a letter outlining their scope of
> work and the cost and then ask if we wanted them to proceed.
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
> I would suggest that they review our Constitution and By-Laws regarding
>
> ARTICLE XVII - Indemnification of Directors, Officers, Agents and Employees
> to determine if it is sufficient.
>
>
>
>
>
>
>
>
>
>
>
>
>
> I twice tried contacting the firm of Pierce Atwood at 1 NH Avenue, #350,
> Portsmouth, NH but was unable to make contact through their automated
> system.
>
>
>
>
>
>
>
>
>
>
>
>
>
> Please advise if you want to proceed - I gather I am requesting permission
> to spend $1500 to retain the services of Drummond Woodsum to review our
> insurance/liability
>
> coverage and our Constitution regarding Indemnification.
>
>
>
>
>
>
>
>
>
>
>
>
>
> David Wajda
>
>
>
>
>
>
> Commodore
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
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