Wouldn't surprise me if there isn't some paper shredding going on somewhere.
No way
Anymore buyouts in the works?
It's going to cost billions
Based on the current death count and estimated damages:
INSURANCE COMPANIES WILL PAY
Total: $265M – $425M (mid-point $345M)
• Wrongful death (14 people): $70M – $120M
• Serious injuries (30–50 people): $25M – $60M
• Property & business destruction: $40M – $85M
• Oil/antifreeze cleanup (226k gallons): $35M – $65M
• Class-action trauma claims: $15M – $40M
• Business interruption: $20M – $45M
• Plaintiff lawyer fees (33–40%): $60M – $110M
UPS WILL ACTUALLY PAY (out of pocket)
Total: $17M – $34M (mid-point $26M)
• Liability deductible: $15M
• Plane hull deductible: $2M
• Lawyers (internal + outside): $3M – $8M
• Crisis PR firm: $1.5M – $3M
• Community aid fund: $0.5M – $3M
• Extra safety audits/FAA: $0 – $2M
The companies are:
INSURERS PAYING ON UPS'S BEHALF ($265M–$425M total claims):
Primary/Syndicate:
- Lloyd’s of London syndicates (lead, biggest share)
Excess/Reinsurance:
- Allianz Commercial
- Chubb (ACE)
- AXA XL
- AIG
- Berkshire Hathaway
- Swiss Re
- Wells Fargo Aviation
Pollution Cleanup (separate policy):
- AIG/XL Catlin
Hull (plane):
- Same as Primary (Lloyd’s lead)
Others (via co-defendants):
- GE/Boeing product liability insurers (Liberty Mutual, FM Global, Zurich, etc. — 30-60% share)
Based on the current death count and estimated damages:
INSURANCE COMPANIES WILL PAYTotal: $265M – $425M (mid-point $345M)
• Wrongful death (14 people): $70M – $120M
• Serious injuries (30–50 people): $25M – $60M
• Property & business destruction: $40M – $85M
• Oil/antifreeze cleanup (226k gallons): $35M – $65M
• Class-action trauma claims: $15M – $40M
• Business interruption: $20M – $45M
• Plaintiff lawyer fees (33–40%): $60M – $110M
UPS WILL ACTUALLY PAY (out of pocket)Total: $17M – $34M (mid-point $26M)
• Liability deductible: $15M
• Plane hull deductible: $2M
• Lawyers (internal + outside): $3M – $8M
• Crisis PR firm: $1.5M – $3M
• Community aid fund: $0.5M – $3M
• Extra safety audits/FAA: $0 – $2M
The companies are:
INSURERS PAYING ON UPS'S BEHALF ($265M–$425M total claims):
Primary/Syndicate:
- Lloyd’s of London syndicates (lead, biggest share)
Excess/Reinsurance:
- Allianz Commercial
- Chubb (ACE)
- AXA XL
- AIG
- Berkshire Hathaway
- Swiss Re
- Wells Fargo Aviation
Pollution Cleanup (separate policy):
- AIG/XL Catlin
Hull (plane):
- Same as Primary (Lloyd’s lead)
Others (via co-defendants):
- GE/Boeing product liability insurers (Liberty Mutual, FM Global, Zurich, etc. — 30-60% share)
Lets see what happens
Based on the current death count and estimated damages:
INSURANCE COMPANIES WILL PAYTotal: $265M – $425M (mid-point $345M)
• Wrongful death (14 people): $70M – $120M
• Serious injuries (30–50 people): $25M – $60M
• Property & business destruction: $40M – $85M
• Oil/antifreeze cleanup (226k gallons): $35M – $65M
• Class-action trauma claims: $15M – $40M
• Business interruption: $20M – $45M
• Plaintiff lawyer fees (33–40%): $60M – $110M
UPS WILL ACTUALLY PAY (out of pocket)Total: $17M – $34M (mid-point $26M)
• Liability deductible: $15M
• Plane hull deductible: $2M
• Lawyers (internal + outside): $3M – $8M
• Crisis PR firm: $1.5M – $3M
• Community aid fund: $0.5M – $3M
• Extra safety audits/FAA: $0 – $2M
The companies are:
INSURERS PAYING ON UPS'S BEHALF ($265M–$425M total claims):
Primary/Syndicate:
- Lloyd’s of London syndicates (lead, biggest share)
Excess/Reinsurance:
- Allianz Commercial
- Chubb (ACE)
- AXA XL
- AIG
- Berkshire Hathaway
- Swiss Re
- Wells Fargo Aviation
Pollution Cleanup (separate policy):
- AIG/XL Catlin
Hull (plane):
- Same as Primary (Lloyd’s lead)
Others (via co-defendants):
- GE/Boeing product liability insurers (Liberty Mutual, FM Global, Zurich, etc. — 30-60% share)
Yup
Years ago there was a informative thread on Brown Cafe about this. Lloyds was mentioned as an external insurance just for the airline division. This crash was bad enough, imagine it leaving from Newark and crashing into Manhattan.
Yup
Years ago there was a informative thread on Brown Cafe about this. Lloyds was mentioned as an external insurance just for the airline division. This crash was bad enough, imagine it leaving from Newark and crashing into Manhattan.
Yah wholly smokes
Not sure if this was mentioned yet. I talked to a driver about being a helper this peak jokingly. He said when you sign to take it buyout. You can’t come back even seasonal like peak. Copied text and pasted this next statement . You can’t even come back on Ups for medical issues every thing gets wiped out Wondering if anymore fine print????
Not sure if this was mentioned yet. I talked to a driver about being a helper this peak jokingly. He said when you sign to take it buyout. You can’t come back even seasonal like peak. Copied text and pasted this next statement . You can’t even come back on Ups for medical issues every thing gets wiped out Wondering if anymore fine print????
You resigned
They don't want us old parts back.
You resigned
They don't want us old parts back.
Yes but medical issues. If something comes on around retirement?? Or after. Is it that way just retiring? I know they fight it all anyway.
Yes but medical issues. If something comes on around retirement?? Or after. Is it that way just retiring? I know they fight it all anyway.
Im not sure im understanding what you are trying to say?
Talking about workmens comp?
Im not sure im understanding what you are trying to say?
Talking about workmens comp?
I guess like comp. if anything comes up health related due to ups. What if you had a back injury 2 years prior to retirement. You thought fine but something comes up with it later You just signed off all liability on ups is what it sounds like. That’s just a made up example but you are signing off on everything and anything
I guess like comp. if anything comes up health related due to ups. What if you had a back injury 2 years prior to retirement. You thought fine but something comes up with it later You just signed off all liability on ups is what it sounds like. That’s just a made up example but you are signing off on everything and anything
Exactly you are no longer employed
If.you.think you are hurt before retirement het a lawyer
Many drivers have done that.
I guess like comp. if anything comes up health related due to ups. What if you had a back injury 2 years prior to retirement. You thought fine but something comes up with it later You just signed off all liability on ups is what it sounds like. That’s just a made up example but you are signing off on everything and anything
When you retire they generally want to close the books on an w/c injury(everyone I know myself included settled their comp cases when they retired)so it doesn't surprise me that there would be a clause in the buyout stating that. I'm betting very few actually had an attorney read the buyout contract before signing it.
When you retire they generally want to close the books on an w/c injury(everyone I know myself included settled their comp cases when they retired)so it doesn't surprise me that there would be a clause in the buyout stating that. I'm betting very few actually had an attorney read the buyout contract before signing it.
Union should have provided that
When you retire they generally want to close the books on an w/c injury(everyone I know myself included settled their comp cases when they retired)so it doesn't surprise me that there would be a clause in the buyout stating that. I'm betting very few actually had an attorney read the buyout contract before signing it.
Just letting everyone know. There also maybe other things snuck in
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