<div>There are many good ideas out ther right now and perhaps Mike&#39;s suggesting of putting together a committee of &quot; our&quot; 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.</div><div>Nanc<br><div class="gmail_quote"><div>On Thu, Mar 30, 2017 at 5:08 PM Roy Briscoe &lt;<a href="mailto:roysail@hotmail.com">roysail@hotmail.com</a>&gt; wrote:<br></div><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><br><br><br><br><br><br><br><br><br><br><div class="gmail_msg"><br><br><div id="m_-1397329752074452498divtagdefaultwrapper" style="font-size:12pt;color:#000000;font-family:Calibri,Arial,Helvetica,sans-serif" class="gmail_msg"><br><br><p class="gmail_msg">Things to think about: </p><br><br><p class="gmail_msg">Has PYC ever been sued?</p><br><br><p class="gmail_msg">And if so, have they ever gone over the insurance limit?</p><br><br><p class="gmail_msg"> There right now.  I agree</p><p class="gmail_msg"><br></p><p class="gmail_msg"><br><br></p><br><br><p class="gmail_msg">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<br><br> 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<br><br> to show for it but a debit record in quickbooks. I don&#39;t think it is worth it, and as you can surmise, I pay insurance companies as little as possible.</p><br><br><p class="gmail_msg"><br class="gmail_msg"><br><br></p><br><br><p class="gmail_msg">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.</p><br><br><p class="gmail_msg"><br class="gmail_msg"><br><br></p><br><br><p class="gmail_msg">Roy</p><br><br><p class="gmail_msg"><br class="gmail_msg"><br><br></p><br><br><div id="m_-1397329752074452498Signature" class="gmail_msg"><br><br><p class="gmail_msg">Sent from <a href="http://aka.ms/weboutlook" id="m_-1397329752074452498LPNoLP" class="gmail_msg" target="_blank">Outlook</a><br class="gmail_msg"><br><br></p><br><br></div><br><br><br class="gmail_msg"><br><br><br class="gmail_msg"><br><br><div style="color:rgb(0,0,0)" class="gmail_msg"><br><br><hr style="display:inline-block;width:98%" class="gmail_msg"><br><br><div id="m_-1397329752074452498divRplyFwdMsg" class="gmail_msg"><font face="Calibri, sans-serif" color="#000000" style="font-size:11pt" class="gmail_msg"><b class="gmail_msg">From:</b> Board &lt;<a href="mailto:board-bounces@portsmouthyc.org" class="gmail_msg" target="_blank">board-bounces@portsmouthyc.org</a>&gt; on behalf of <a href="mailto:dswajda@comcast.net" class="gmail_msg" target="_blank">dswajda@comcast.net</a> &lt;<a href="mailto:dswajda@comcast.net" class="gmail_msg" target="_blank">dswajda@comcast.net</a>&gt;<br class="gmail_msg"><br><br><b class="gmail_msg">Sent:</b> Thursday, March 30, 2017 5:46 PM<br class="gmail_msg"><br><br><b class="gmail_msg">To:</b> Board</font></div></div></div></div><div class="gmail_msg"><div id="m_-1397329752074452498divtagdefaultwrapper" style="font-size:12pt;color:#000000;font-family:Calibri,Arial,Helvetica,sans-serif" class="gmail_msg"><div style="color:rgb(0,0,0)" class="gmail_msg"><div id="m_-1397329752074452498divRplyFwdMsg" class="gmail_msg"><font face="Calibri, sans-serif" color="#000000" style="font-size:11pt" class="gmail_msg"><br class="gmail_msg"><br><br><b class="gmail_msg">Subject:</b> Re: [Board-2017] Insurance Review</font></div></div></div></div><div class="gmail_msg"><div id="m_-1397329752074452498divtagdefaultwrapper" style="font-size:12pt;color:#000000;font-family:Calibri,Arial,Helvetica,sans-serif" class="gmail_msg"><div style="color:rgb(0,0,0)" class="gmail_msg"><br><br><div class="gmail_msg"><br><br><div style="font-family:Arial;font-size:12pt;color:#000000" class="gmail_msg"><br><br><div class="gmail_msg">Nancy,</div><br><br><div class="gmail_msg">Your are correct in your assessment. The firm will be putting the dollar amount on their &quot;time&quot;.</div><br><br><div class="gmail_msg"><br class="gmail_msg"><br><br></div><br><br><div class="gmail_msg">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<br><br> for additional coverage was reasonable then increase the amount. I followed the board&#39;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<br><br> 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 -</div><br><br><div class="gmail_msg"><br class="gmail_msg"><br><br></div><br><br><div class="gmail_msg">David Wajda</div><br><br><div class="gmail_msg">Commodore</div><br><br><div class="gmail_msg"><br class="gmail_msg"><br><br></div><br><br><hr id="m_-1397329752074452498zwchr" class="gmail_msg"><br><br><div style="color:#000;font-weight:normal;font-style:normal;text-decoration:none;font-family:Helvetica,Arial,sans-serif;font-size:12pt" class="gmail_msg"><br><br><b class="gmail_msg">From: </b>&quot;Nancy Gulley&quot; &lt;<a href="mailto:nancgulley@gmail.com" class="gmail_msg" target="_blank">nancgulley@gmail.com</a>&gt;<br class="gmail_msg"><br><br><b class="gmail_msg">To: </b>&quot;Board of Directors&quot; &lt;<a href="mailto:board@portsmouthyc.org" class="gmail_msg" target="_blank">board@portsmouthyc.org</a>&gt;, <a href="mailto:info@blueberrybayfarm.com" class="gmail_msg" target="_blank">info@blueberrybayfarm.com</a><br class="gmail_msg"><br><br><b class="gmail_msg">Sent: </b>Wednesday, March 29, 2017 9:03:00 PM<br class="gmail_msg"><br><br><b class="gmail_msg">Subject: </b>Re: [Board-2017] Insurance Review<br class="gmail_msg"><br><br><div class="gmail_msg"><br class="gmail_msg"><br><br></div><br><br><div class="gmail_msg">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<br><br> coverage to $5 million would work.</div><br><br><div class="gmail_msg">Nanc</div><br><br><div class="gmail_msg"> <br class="gmail_msg"><br><br><div class="gmail_quote gmail_msg"><br><br><div class="gmail_msg">On Wed, Mar 29, 2017 at 4:39 PM Ron Laurence - Blueberry Bay Farm &lt;<a href="mailto:info@blueberrybayfarm.com" class="gmail_msg" target="_blank">info@blueberrybayfarm.com</a>&gt; wrote:<br class="gmail_msg"><br><br></div><br><br><blockquote class="gmail_quote gmail_msg" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><br><br><div lang="EN-US" class="gmail_msg"><br><br><div class="m_-1397329752074452498m_3759773926146459439WordSection1 gmail_msg"><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-size:11.0pt;font-family:&quot;Calibri&quot;,sans-serif;color:#1f497d">Dave:<span class="gmail_msg" style="text-decoration:underline"></span><span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-size:11.0pt;font-family:&quot;Calibri&quot;,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<br><br> 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<br><br> $3million.  What I\u2019m deeply worried about is a claim, and later an award by a judge or jury,<br><br><span class="gmail_msg" style="text-decoration:underline">exceeding $3M</span>,  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<br><br> that the club was negligent.  Remember, a yacht club, and its officers and directors are<br><br><span class="gmail_msg" style="text-decoration:underline">perceived</span> 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<br><br> it\u2019s a simple fact that these individuals <span class="gmail_msg" style="text-decoration:underline"><br><br>are not adequately protected</span> 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,<br><br> 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<br><br> in the case of such an unlikely event.<span class="gmail_msg" style="text-decoration:underline"></span><span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br><p class="MsoNormal gmail_msg"><br class="gmail_msg"><br><br></p><br><br><div class="gmail_msg"><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-family:&quot;Garamond&quot;,serif;color:#002060">Ron Laurence<span class="gmail_msg" style="text-decoration:underline"></span><span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-size:16.0pt;font-family:&quot;Garamond&quot;,serif;color:#002060">Blueberry Bay Farm<span class="gmail_msg" style="text-decoration:underline"></span><span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-size:11.0pt;font-family:&quot;Garamond&quot;,serif;color:#002060">38 Depot Road<span class="gmail_msg" style="text-decoration:underline"></span><span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-size:11.0pt;font-family:&quot;Garamond&quot;,serif;color:#002060">Stratham, NH 03885<span class="gmail_msg" style="text-decoration:underline"></span><span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-size:11.0pt;font-family:&quot;Garamond&quot;,serif;color:#002060">603-580-1612<span class="gmail_msg" style="text-decoration:underline"></span><span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-family:&quot;Garamond&quot;,serif;color:#002060"><a href="http://www.blueberrybayfarm.com" class="gmail_msg" target="_blank">www.blueberrybayfarm.com</a><span class="gmail_msg" style="text-decoration:underline"></span><span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br></div><br><br></div><br><br></div><br><br><div lang="EN-US" class="gmail_msg"><br><br><div class="m_-1397329752074452498m_3759773926146459439WordSection1 gmail_msg"><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-size:11.0pt;font-family:&quot;Calibri&quot;,sans-serif;color:#1f497d"><span class="gmail_msg" style="text-decoration:underline"></span> <span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br><div class="gmail_msg"><br><br><div class="gmail_msg" style="border:none;border-top:solid #e1e1e1 1.0pt;padding:3.0pt 0in 0in 0in"><br><br><p class="MsoNormal gmail_msg"><b class="gmail_msg"><span class="gmail_msg" style="font-size:11.0pt;font-family:&quot;Calibri&quot;,sans-serif">From:</span></b><span class="gmail_msg" style="font-size:11.0pt;font-family:&quot;Calibri&quot;,sans-serif"> Board [mailto:<a href="mailto:board-bounces@portsmouthyc.org" class="gmail_msg" target="_blank">board-bounces@portsmouthyc.org</a>]<br><br><b class="gmail_msg">On Behalf Of </b><a href="mailto:dswajda@comcast.net" class="gmail_msg" target="_blank">dswajda@comcast.net</a><br class="gmail_msg"><br><br><b class="gmail_msg">Sent:</b> Wednesday, March 29, 2017 1:59 PM<br class="gmail_msg"><br><br><b class="gmail_msg">To:</b> Board PYC &lt;<a href="mailto:board@portsmouthyc.org" class="gmail_msg" target="_blank">board@portsmouthyc.org</a>&gt;<br class="gmail_msg"><br><br><b class="gmail_msg">Subject:</b> [Board-2017] Insurance Review<span class="gmail_msg" style="text-decoration:underline"></span><span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br></div><br><br></div><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="text-decoration:underline"></span> <span class="gmail_msg" style="text-decoration:underline"></span></p><br><br></div><br><br></div><br><br><div lang="EN-US" class="gmail_msg"><br><br><div class="m_-1397329752074452498m_3759773926146459439WordSection1 gmail_msg"><br><br><div class="gmail_msg"><br><br><div class="gmail_msg"><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-family:&quot;Arial&quot;,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.<br><br> 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<br><br> 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. <span class="gmail_msg" style="text-decoration:underline"></span><span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br></div><br><br></div><br><br></div><br><br></div><br><br><div lang="EN-US" class="gmail_msg"><br><br><div class="m_-1397329752074452498m_3759773926146459439WordSection1 gmail_msg"><br><br><div class="gmail_msg"><br><br><div class="gmail_msg"><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-family:&quot;Arial&quot;,sans-serif;color:black"><span class="gmail_msg" style="text-decoration:underline"></span> <span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br></div><br><br><div class="gmail_msg"><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-family:&quot;Arial&quot;,sans-serif;color:black">I would suggest that they review our Constitution and By-Laws regarding<br><br><span class="gmail_msg" style="text-decoration:underline">ARTICLE XVII - Indemnification of Directors, Officers, Agents and Employees</span> to determine if it is sufficient.<span class="gmail_msg" style="text-decoration:underline"></span><span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br></div><br><br><div class="gmail_msg"><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-family:&quot;Arial&quot;,sans-serif;color:black"><span class="gmail_msg" style="text-decoration:underline"></span> <span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br></div><br><br><div class="gmail_msg"><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-family:&quot;Arial&quot;,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.<span class="gmail_msg" style="text-decoration:underline"></span><span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br></div><br><br><div class="gmail_msg"><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-family:&quot;Arial&quot;,sans-serif;color:black"><span class="gmail_msg" style="text-decoration:underline"></span> <span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br></div><br><br><div class="gmail_msg"><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-family:&quot;Arial&quot;,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<br><br> coverage and our Constitution regarding Indemnification.<span class="gmail_msg" style="text-decoration:underline"></span><span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br></div><br><br><div class="gmail_msg"><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-family:&quot;Arial&quot;,sans-serif;color:black"><span class="gmail_msg" style="text-decoration:underline"></span> <span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br></div><br><br><div class="gmail_msg"><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-family:&quot;Arial&quot;,sans-serif;color:black">David Wajda<span class="gmail_msg" style="text-decoration:underline"></span><span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br></div><br><br><div class="gmail_msg"><br><br><p class="MsoNormal gmail_msg"><span class="gmail_msg" style="font-family:&quot;Arial&quot;,sans-serif;color:black">Commodore<span class="gmail_msg" style="text-decoration:underline"></span><span class="gmail_msg" style="text-decoration:underline"></span></span></p><br><br></div><br><br></div><br><br></div><br><br></div><br><br></blockquote><br><br></div><br><br></div><br><br></div><br><br><div class="gmail_msg"><br class="gmail_msg"><br><br></div><br><br></div><br><br></div><br><br></div></div></div></blockquote></div></div>