Originally Posted by SoftSnowGuy
Two things are needed. Each of us needs to know how the employer ski area will cover their employees. Anyone interested in this insurance needs to download a copy of the policy and read and understand the fine print before you buy it. How about these items...
$5mil aggregate liability. Does that mean that after their are five claims for $1mil each, there is no more liability coverage for the rest who paid for coverage?Yes you are correct. The aggregate is the maximum the policy will pay out regardless of how many claims are made, if you want additional coverage an umbrella policy will procide additional limits.
"You must report immediately to Us
any occurrence, loss, damage or expense which may be covered under this Policy. To the
extent possible, this notice should include: full details of how, when and where the
occurrence, loss or damage took place; the names and addresses of any injured persons and
witnesses; and the nature of any injuries to persons or damage to property."This is just the insurance companies way of saying tell us about an incident in full as soon as possible. They want to get involved with a claim early as evidence indicates the earlier an insurance company get involved with a claim then the less it will cost.
"You shall not, except at Your own cost, admit any liability...." I guess one could say, after a mishap, "sorry, but..."This is the same policy that applies when you are in a car accident. By all means get the police involved and tell the truth about the details of the incident but do not say "it was my fault". Let the police or the courts decide who is at fault.
"this policy does not apply to “punitive or
exemplary damages”"Punitive damages are damages in excess of those required to compensate the plaintiff for the wrong done, which are imposed in order to punish the defendant because of the particularly wanton or willful character of his wrongdoing
We will not pay expenses for “bodily injury”:"
To a person injured while practicing, instructing or participating in any physical exercises or games, sports, or athletic contests."The policy does not pay for injuried to the instructor.
And, I'm sure there are more parts of the policy that merit examination.