Hudson Valley Agents Blog
Would Your Business Be Bankrupted by a Liability Lawsuit?
2/1/2012 8:47:10 AM
New York business insurance offers a variety of benefits to policy holders. One of the most important advantages is financial assistance during a liability claim. Whether such cases are settled out of court or decided by a jury, they have the potential to cost businesses a lot of money. Consider the outcome of a 2005 lawsuit brought against the Yamaha Motor Company.
According to reports of the case, during the winter of 2005, Dennis Mohr was snowmobiling at a friend’s home in New York. After determining the vehicle was not working properly, they decided to work on it. The problem ended up being with the spark plugs. During the course of the repairs, the metal track, the part that allows the snowmobile to move, disconnected from the vehicle and hit Mohr’s leg, severing it more than halfway through. Modern medical techniques could not save the leg and it was soon amputated above the knee.
After recovering from the injury, Mohr sued Yamaha for product liability for what he claimed was a design defect with inadequate warning. Despite Yahama’s claims that the owner’s manual cautioned of the potential for such an incident, the jury sided with Mohr and awarded him $1,107,000 in damages. The judge, in what was said to be a controversial move, decided the amount was insufficient and added an extra $900,000 to the sum.
Could you afford to pay over $2 million for a liability lawsuit? Few businesses could and still be open to tell the tale. With adequate New York business insurance, you may receive aid with the legal fees and damages related to a lawsuit.
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According to reports of the case, during the winter of 2005, Dennis Mohr was snowmobiling at a friend’s home in New York. After determining the vehicle was not working properly, they decided to work on it. The problem ended up being with the spark plugs. During the course of the repairs, the metal track, the part that allows the snowmobile to move, disconnected from the vehicle and hit Mohr’s leg, severing it more than halfway through. Modern medical techniques could not save the leg and it was soon amputated above the knee.
After recovering from the injury, Mohr sued Yamaha for product liability for what he claimed was a design defect with inadequate warning. Despite Yahama’s claims that the owner’s manual cautioned of the potential for such an incident, the jury sided with Mohr and awarded him $1,107,000 in damages. The judge, in what was said to be a controversial move, decided the amount was insufficient and added an extra $900,000 to the sum.
Could you afford to pay over $2 million for a liability lawsuit? Few businesses could and still be open to tell the tale. With adequate New York business insurance, you may receive aid with the legal fees and damages related to a lawsuit.
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