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Old 03-11-2013
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Re: Types of insurance

All very good points. I'm glad you brought up the Valdez. That is a good example. I know that the companies involved paid and paid big for the captain's negligence. But suppose that the captain also is quite wealthy and has very deep pockets. Maybe he married an olive oil heiress or something. What prevents the insurance companies, or other's that were harmed by his negligence from coming after him personally? That is where I would think professional liability insurance would be beneficial.
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