[Kzyxtalk] "Uninsurable Risk"

[smmail]

I just caught up on your latest addition to your conspiracy theory. What 
possible financial responsibility do you think that the volunteer 
directors of a non-profit corporation, and the corporation itself for 
that matter, have. You threaten suit, but you have to have a 
documentable financial loss to sue for compensation. Sue because you 
didn’t get the programming you wanted, now there is a laugh.

I also am unable to make heads nor tails of your statements regarding 
the 990 tax form or your comment about how the station has already 
released member contact information. They haven’t. Why not list a 
specific circumstance that you think is improper along with the law or 
regulation that you think it violates, and then explain what the 
complaint in your suit would specify? SM



On 6/10/2016 8:43 PM, Scott Peterson wrote:
> Dear Mr./Ms. SM,
>
>
> I was wondering if you could help me out with something. I was looking
>
>
> at ways for MCPB Directors and Officers to get insurance coverage. You
>
>
> know. Just in case there's a big fat lawsuit. I think that Mr. John 
> Sakowicz
>
>
> brought this up a couple of years ago. And that MCPB didn't have any
>
>
> such coverage. So I went looking for it. But ran into this:
>
>
> http://www.investopedia.com/terms/u/uninsurable-risk.asp
>
>
> It's called 'Uninsurable Risk': "A hazard or condition that has a high
>
>
> likelihood of loss, or in which the insurance would be considered against
>
>
> the law. Insurance companies limit their losses by not taking on certain
>
>
> risks that are very likely to soon result in a loss."
>
>
> In fact -- at least according to Mr. Sakowicz -- the absence of Directors
>
>
> and Officers coverage is one of the factors leading to an FCC complaint
>
>
> that drained MCPB of $30,000+ in attorney fees. Surely if MCPB were
>
>
> adequately insured, the insurance company would have paid for it.
>
>
> Given that MCPB appears to delegate important functions -- such as
>
>
> the review of Form 990s -- to non-voting directors, what would be the
>
>
> incentive for any insurance company to cover voting directors here?
>
>
> Sincerely,
>
>
> Scott M. Peterson
>
>
> Mendocino
>
>
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