Man, the article was written bad. That said it was in compliance with a minimum of $1M in coverage. They have to have excess. if not, that is ridiculous
I’m shocked they only have $1M coverage considering the exposure. I insured a much smaller park (which is now a Six Flags property) that had a Ferris Wheel get stuck in the middle of a hellacious hail storm and that claim was over $1M. If anything, they should have higher retentions and higher limits for the same premium.
The article says they’re in compliance with the state mandated limit, not that $1,000,000 is the limit they’re carrying. I assume an operation like Six Flags carries a significantly higher limit, and most likely a pretty high retention, too. On the other hand, I wouldn’t be surprised if some of the transient carnivals carry the minimum.
And this is why I only go on the old fashioned ones that don’t spin upside down – that and the fact that I get motion sickness. What a horrible tragedy. And one would think that they would have more exposure then 1M – that’s certainly not enough in exposure.
Maybe it’s just me, but 14 injuries over a period of five years for as active an attraction as this doesn’t seem that bad, particularly if one is including trips and falls.
As a woman in “in my 50’s” I still enjoy a good roller coaster ride, but the older I get the harder it is for my body to recover. But each time I get on, I read the warnings and wouldn’t dream of filing a claim for a pulled muscle, etc. That is the inherent risk I take when I get on. However, considering we do live in a litigious society and people are always looking for a quick buck, I agree that 14 claims is not very many!
They will need a lot more than $1mil to settle this claim. I wonder what the premium charge is to cover this exposure and others at this park.
Man, the article was written bad. That said it was in compliance with a minimum of $1M in coverage. They have to have excess. if not, that is ridiculous
I’m shocked they only have $1M coverage considering the exposure. I insured a much smaller park (which is now a Six Flags property) that had a Ferris Wheel get stuck in the middle of a hellacious hail storm and that claim was over $1M. If anything, they should have higher retentions and higher limits for the same premium.
The article says they’re in compliance with the state mandated limit, not that $1,000,000 is the limit they’re carrying. I assume an operation like Six Flags carries a significantly higher limit, and most likely a pretty high retention, too. On the other hand, I wouldn’t be surprised if some of the transient carnivals carry the minimum.
Good eye, Scott. I stand corrected.
And this is why I only go on the old fashioned ones that don’t spin upside down – that and the fact that I get motion sickness. What a horrible tragedy. And one would think that they would have more exposure then 1M – that’s certainly not enough in exposure.
Maybe it’s just me, but 14 injuries over a period of five years for as active an attraction as this doesn’t seem that bad, particularly if one is including trips and falls.
As a woman in “in my 50’s” I still enjoy a good roller coaster ride, but the older I get the harder it is for my body to recover. But each time I get on, I read the warnings and wouldn’t dream of filing a claim for a pulled muscle, etc. That is the inherent risk I take when I get on. However, considering we do live in a litigious society and people are always looking for a quick buck, I agree that 14 claims is not very many!