I joined the Board & we all got sued.

[PhysicianOnFIRE]

Vagabond MD wrote:

My wife works company/defense side, so this is not her bailiwick.

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That's a relief. The bromance lives on.

Regarding the plaintiff's lawyers, there are some cases in which they are representing someone with a legitimate case in which a person or entity was harmed by negligent or willful acts of another, but so many others where the outcome was nobody's fault and they're just looking for someone (the wealthier the better) to blame. I don't know how difficult it would be or how much money it would take for me to convince myself I was "doing good" in cases like that, which are all too common.

John Edwards is a great example, reenacting the birth of a child born with cerebral palsy and blaming the outcome on the OB/Gyn. It's all an act, the science doesn't support his premise, and as long as he wins and collects millions, he feels he has done good.

[q-school]

with lawsuits, it costs them very little or nothing to list everyone as a defendant.  it costs us a lot to get off the list.

 

 

[ReFinDoc]

Is it possible to join a board as an LLC?

[DocNextDoor]

I am glad your ordeal is over with, I hope to never have to deal with something similar.

 

Good idea to get that umbrella policy. With my personal experience, be forewarned the price of that policy will skyrocket when 2 boys get older and have their driver's licenses.

[Craigy]

q-school wrote:

with lawsuits, it costs them very little or nothing to list everyone as a defendant.  it costs us a lot to get off the list.

 

 

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On the flipside, they can have their whole case thrown out if they don't list all of the necessary parties.

[Hatton]

PhysicianOnFIRE wrote:

John Edwards is a great example, reenacting the birth of a child born with cerebral palsy and blaming the outcome on the OB/Gyn. It’s all an act, the science doesn’t support his premise, and as long as he wins and collects millions, he feels he has done good.

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I have friends who are die hard Democrats who voted Republican because Edwards was on the ticket.  My favorite quote from my trial was "I am sure Dr X did not mean to maim this child but......"

[Craigy]

ReFinDoc wrote:

Is it possible to join a board as an LLC?

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Then they would name both you and your LLC.

[ReFinDoc]

What if my name does not show on the list? Only the LLC is a board member? As a member of an LLC, I am not personally liable.

This is not like professional negligence. I have seen LLCs be owners of Real Estate.

I don't know...only asking.

[Craigy]

Same answer.

[beagler]

So what should we be looking for in d&o policy? What made the one pof had not valid for bankruptcy?

I think the lesson is not to avoid all boards there is some civic good we can accomplish for selected charities. But pick lower risk ones and check the d&o policy for something... anyone help us?

[spotty_dog]

You can ask the leadership of the nonprofit to share the policy with you? I'm in charge of my PTA's insurance so I got our D&O policy in my email recently. We have a $1M limit and a $1500 deductible. Reading the policy, we'd almost certainly be covered against the kind of claim that was made on PoF. Claims are defined broadly, and exceptions are specific. If in doubt, have a lawyer review the policy?