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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#0563C1" vlink="#954F72"><div class=WordSection1><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D'>Dave:<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D'>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\u2019m not sure that a review of our liability insurance by an attorney is money well spent. According to paperwork from Joe Cunningham, I\u2019m confident that the club and its officers and directors are protected on liability claims up to $3million. What I\u2019m deeply worried about is a claim, and later an award by a judge or jury, <u>exceeding $3M</u>, 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 <u>perceived</u> to be wealthy and this would no doubt enter into a judge\u2019s decision into making an award. I believe, in the case of whomever of the officers and directors have net worth over $3M, that it\u2019s a simple fact that these individuals <u>are not adequately protected</u> 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.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D'> <o:p></o:p></span></p><div><p class=MsoNormal><span style='font-family:"Garamond",serif;color:#002060'>Ron Laurence<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:16.0pt;font-family:"Garamond",serif;color:#002060'>Blueberry Bay Farm<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Garamond",serif;color:#002060'>38 Depot Road<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Garamond",serif;color:#002060'>Stratham, NH 03885<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Garamond",serif;color:#002060'>603-580-1612<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Garamond",serif;color:#002060'><a href="www.blueberrybayfarm.com">www.blueberrybayfarm.com</a><o:p></o:p></span></p></div><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'>From:</span></b><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'> Board [mailto:board-bounces@portsmouthyc.org] <b>On Behalf Of </b>dswajda@comcast.net<br><b>Sent:</b> Wednesday, March 29, 2017 1:59 PM<br><b>To:</b> Board PYC <board@portsmouthyc.org><br><b>Subject:</b> [Board-2017] Insurance Review<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'>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. <o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'><o:p> </o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'>I would suggest that they review our Constitution and By-Laws regarding <u>ARTICLE XVII - Indemnification of Directors, Officers, Agents and Employees</u> to determine if it is sufficient.<o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'><o:p> </o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'>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.<o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'><o:p> </o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'>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.<o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'><o:p> </o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'>David Wajda<o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-family:"Arial",sans-serif;color:black'>Commodore<o:p></o:p></span></p></div></div></div></body></html>