Running a business is a matter of managing the ups and downs.  Hopefully more ups than downs.  Whether part of the board or one of the top executives in a corporation, you realize you’ve got to handle the pitch and roll in order to keep the business afloat.  Particularly in these difficult economic times.During financially difficult times people are more prone to seek out and take legal action against any perceived corporate misstep.  Top-level decisions can be challenged by investors, regulators, and even criminal prosecutors.   And, so it is more important than ever that directors understand their obligations and potential liabilities.
In medicine, we hear a lot about preventative care.   In matters of asset protection, doctors would do well to follow their own advice.  Physicians should prevent their assets from becoming vulnerable to a frivolous lawsuit.  Being sued leaves much more at risk than a medical practice. Injured parties are seeking compensation for injuries received and in many cases a civil action against the physician to prevent further malpractice by the medical professional. Personal assets of the physicians are always looked at as a possible means of receiving compensation.Personal assets come into play in one of two ways:
  • If a judgment exceeds your medical policy limit
  • If the action in question falls under one of the policy exclusions
For even the most controlled persons, times may come when self-defense, or the defense of someone unable to protect themselves, may arise.  In these cases, the assumption is often that litigation for any violence would naturally not apply.However, you would be surprised how often assault and battery litigation could still stick.  Assault and battery is the combination of two violent crimes: assault, or the threat of violence; and battery, or the actual physical violence.The intention behind the actions is important.  Generally, it is only necessary for the defendant to have intent to do the harmful act (as opposed to an intention to actually do harm). Essentially, the act must be done voluntarily.  Even in cases of self-defense, an intention to do harm or to do a harmful act can result in assault and battery charges.
In a recent Washington Post article, it was cited that winning the $640M jackpot was so remote (1 in 176 million chance), that you had a better chance at the following:
  • You have a 1 in 1 million chance of getting hit by lightning, according to the National Oceanic and Atmospheric Administration.
  • There's a 1-in-a-few-million chance of the Earth getting wiped out by a large asteroid, a NASA spokesperson said.
  • You have a greater chance of having identical quadruplets than winning the Mega Millions jackpot. Odds are 1 in 13 million, according to an NBC report.
  • Scared of dying from a bee sting? Well, you have a 1 in 6.1 million chance of dying from one, according to the Harvard Center for Risk Analysis.
If ever you’ve been present at a high school graduation, religious service, or third-grade spelling bee, you will have undoubtedly noticed a trend on the part of those speaking. The trend is to define the term on which they wish to focus their remarks by turning to Webster or Oxford or whatever dictionary they have closest at hand and then reading the precise definition. It’s an age-old practice that’s as annoying as it is predictable.Individual liability: A financial obligation for which an individual is responsible and which may be satisfied out of his or her assets (Business Dictionary).So why is individual liability of any concern to you, you ask? Well, allow me to ask you two basic questions:
I know a thing or two about competition.  I was sixteen, playing volleyball for my high school team.  Things were pretty intense; the teams were neck-and-neck.  The other team bumped, set and spiked!....right into my face.  My face burned from a mixture of humiliation and pain and my ears rung, thankfully masking the sound of the other team’s fans cheering from the stands.   I blinked, dazed, wondering if my face would appear permanently smashed after this experience.  I was angry, but even though my team was losing and I had been injured, I never thought of retribution.The same cannot be said for John Levi Miller, a former professional wrestler who is currently suing an old opponent for kicking him in the crotch hard enough to cause his testicles to rupture, resulting in one of them having to be removed.  Ouch!  And I thought I knew what being competitive was all about.
Confucius, once said, “Before you embark on a journey of revenge, dig two graves.” In a better world, such words of wisdom would cause at very least a moment of reflection, but alas today’s modern society abounds with stories of revenge and retaliation gone awry.When it comes to retaliation in the workplace, it’s important for employers and managers to remember that prevention is much preferred to the bitter pill of litigation. That’s because, historically speaking, it’s typically the company that ends up taking the blame in retaliation suits. In fact, recent studies indicate that an employee who files a retaliation lawsuit is more likely to prevail at trial and recover significant damages than an employee filing a typical discrimination claim.What makes retaliation claims so much different? One theory would indicate that jurors, while slow to believe that managers are racist or sexist, are much more likely to find those same individuals capable of seeking revenge on someone looking to hurt the company. It’s simply human nature.
Have you ever been summoned for jury duty?  Well, let me tell you a little about it.  You HAVE to go; no if, and, or buts about it.You are sometimes allowed to reschedule, but you’ve still got to do your time.  Missing work, school, birthdays, weddings, or whatever it may be is inconvenient to say the least.  What if the case continues on for weeks or even months?  Now can you imagine if you weren’t on the jury, but were the defendant?!  It can happen easier than one might think, especially for all you professionals out there.Thinking that you’re completely protected from lawsuits is a rather naïve assumption, especially nowadays.  Recent trends in court decisions have been holding HR practitioners, supervisors, business owners, and other decision-makers personally liable for their actions under several employment laws.
[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text]If your work clothes are workout clothes and your office is a gym, you are in the market for fitness instructor insurance. Your job is to motivate people to reach past their limits to do one more crunch, bench press, or squat. You coach them through new moves, correct their form, and then push them to do even better. Fitness instructors are sought after by a growing baby boomer population as this generation strives to remain active throughout their lives. Years of education, experience and building your client-base has formed the foundation for your business. You don't want to loose everything over one bad experience.