Tiregate lawsuit?

[W2Racing09]

He needs too incorporate too so they cant go after his house or cars...

The series is incorporated as an LLC, and has insurance.

Thanks,
Jeff.

[Barbecueboy]

Not that expensive? I've never seen an account premium under $1500 annually. That isn't expensive?

I don't know what insurance policy you think they have but I would be very surprised if it covers up to 16M.

Not to mention it wasn't even a post about litigation, it was a post about nobody buying UMP. Who would? I like UMP and I wouldn't buy it... if they were to lose the lawsuit would you want to spend money on something with all that negative press attached to it?

Thanks,
Jeff.

I was addressing your comment of the series being saddled with debt specifically.........you can fool people that don't know better.

I'm one guy , with a very small side business and carry million in liability on it....for less than your figure.......so no, 1500 annually is no big deal for a corporation like wrg.

It's highly likely that a Corp like wrg carries a much , much higher coverage.....

[Barbecueboy]

Not that expensive? I've never seen an account premium under $1500 annually. That isn't expensive?

I don't know what insurance policy you think they have but I would be very surprised if it covers up to 16M.

Not to mention it wasn't even a post about litigation, it was a post about nobody buying UMP. Who would? I like UMP and I wouldn't buy it... if they were to lose the lawsuit would you want to spend money on something with all that negative press attached to it?

Thanks,
Jeff.

And if they lose, it's on them for having a crappy plan to root out cheating........and no , why would I want to buy a business that was failing anyway?

Unless I could get it for a song........

[Barbecueboy]

The series is incorporated as an LLC, and has insurance.

Thanks,
Jeff.

Is there a umbrella in it for directors insurance?.......as I understand it, if you don't and you personally do seething stupid......you aren't fully protected.

[W2Racing09]

I was addressing your comment of the series being saddled with debt specifically.........you can fool people that don't know better.

I'm one guy , with a very small side business and carry million in liability on it....for less than your figure.......so no, 1500 annually is no big deal for a corporation like wrg.

It's highly likely that a Corp like wrg carries a much , much higher coverage.....

Anyone who insures anything involved with racing (or anything extra dangerous presumably) is a little more stringent. I got several quotes and the smallest one was exactly $1500 (They had a minimum premium amount).

I'm sure they carry insurance for a really big amount -- but 16 Million? I doubt if you add up every UMP race all season and all of their payouts it barely equals 16 Million -- if that!

Thanks,
Jeff.

[W2Racing09]

Is there a umbrella in it for directors insurance?.......as I understand it, if you don't and you personally do seething stupid......you aren't fully protected.

I am not the race director at events (The track flag man and on track officials are in charge when the cars are on track). I think you are right that the business insurance does not cover if say the series has a race director that didn't throw a caution for a spun car and someone got killed or something like that. But I could be wrong there too.

Thanks,
Jeff.

[Cardirt0]

The series is incorporated as an LLC, and has insurance.

Thanks,
Jeff.

You Just need too work on a good Rule book then.. a good Rule book can save your ass ..and Call your Insurance co. ... If they are a good one they will help you with your rule book...
Added...
Sometimes its just how its worded that can make all go Right or Wrong...

[plunks7]

Lets just say for instance it was Birky instead of Scott. This board would light up like torch, that their scales and DQ were wrong. Birky didn't cheat racing!!!! Most everybody would be posting with unsatisfied along with displeasure of BOO WOO, UMP and WRG. So for the people who think their not bashing Scott your wrong. Its all in the name, don't Kid yourself!!!!!!!!!!!

[W2Racing09]

You Just need too work on a good Rule book then.. a good Rule book can save your ass ..and Call your Insurance co. ... If they are a good one they will help you with your rule book...
Added...
Sometimes its just how its worded that can make all go Right or Wrong...

As a person who isn't as up to date on tech related stuff that is definitely a weakness of mine. I've got some great people who know a ton that help me with the series but could definitely imagine there are holes that a lawyer might be able to pick out.

http://www.midatlanticmods.net/rules.html

[W2Racing09]

Lets just say for instance it was Birky instead of Scott. This board would light up like torch, that their scales and DQ were wrong. Birky didn't cheat racing!!!! Most everybody would be posting with unsatisfied along with displeasure of BOO WOO, UMP and WRG. So for the people who think their not bashing Scott your wrong. Its all in the name, don't Kid yourself!!!!!!!!!!!

You are probably right but from my perspective I would be just as critical of this lawsuit if Josh and Mark Richards themselves were behind it. It is bad for racing, I don't care if Scott Bloomquist and Co. decide to donate the entire 16M to charity it is still a net negative in my book -- not because I don't want to see them win or get money, but as others have stated it is going to lead to more and more problems.

Thanks,
Jeff.

[Cardirt0]

As a person who isn't as up to date on tech related stuff that is definitely a weakness of mine. I've got some great people who know a ton that help me with the series but could definitely imagine there are holes that a lawyer might be able to pick out.

http://www.midatlanticmods.net/rules.html

When i had my Light and Sound Co. I sent my Lease papers too the Insurance co, a week later they sent me a letter and a new Lease I could use...I like the one they sent me... But the Big thing was If I use the one they sent me they said they give me a 10% Discount...Guess witch one I used....

[formercrewguy]

A good lawyer can keep this from going to trial( if and when) for years.

[Barbecueboy]

Anyone who insures anything involved with racing (or anything extra dangerous presumably) is a little more stringent. I got several quotes and the smallest one was exactly $1500 (They had a minimum premium amount).

I'm sure they carry insurance for a really big amount -- but 16 Million? I doubt if you add up every UMP race all season and all of their payouts it barely equals 16 Million -- if that!

Thanks,
Jeff.

I appreciate your enthusiasm , but wisdom trumps enthusiasm almost every single time.....

Like you really needed to explain to me that insurance at a race track is a little more stringent?

Come on man, this isn't snapchat and you aren't talking to your buddies at the smoothie bar.......I certainly am not the smartest guy in the room, but I kinda have a pretty good working knowledge of a few things ( especially things that I am confident in talking about)

[Barbecueboy]

I am not the race director at events (The track flag man and on track officials are in charge when the cars are on track). I think you are right that the business insurance does not cover if say the series has a race director that didn't throw a caution for a spun car and someone got killed or something like that. But I could be wrong there too.

Thanks,
Jeff.

You can feel pretty confident knowing I'm right on this one.......and it would cover a much larger scope than just things like that.

[Barbecueboy]

You are probably right but from my perspective I would be just as critical of this lawsuit if Josh and Mark Richards themselves were behind it. It is bad for racing, I don't care if Scott Bloomquist and Co. decide to donate the entire 16M to charity it is still a net negative in my book -- not because I don't want to see them win or get money, but as others have stated it is going to lead to more and more problems.

Thanks,
Jeff.

And on the glass half full side..........will fix more problems than it will cause.