CTP 7.69% 4.8¢ central petroleum limited

John Heugh wins litigation against CTP, page-25

  1. 24,386 Posts.
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    It might be so karll. But it is their money (Insurance Money) that they will spend/pay, not CTP's.
    And, after having experienced that myself in the past, once an Insurance Company will take it over, it is their final decision to make, not the Insured.

    Once an Insurance Company will take over the responsibility of any claims, it is then up to them to call the shots and to decide as to how they will proceed with it. If the Insured will step outside those guidelines and don't follow what they are told to do, the Insurer will usually, if not invariably, wash their hands altogether and it then becomes the sole responsibility of the Insured party.

    IMHO, CTP should put out a properly released announcement to put the matter to bed once and for all. It would at least stop this nonsense and conjectures posted around here.

    Finally, while it is IMO, the Insurance will cover any wrong doings by the Board of Directors, not what should have been payable to the Employee should have he retained his employment position. It is also my personal opinion that, any Insurance Company will have a clear amount stated in the Policy which will limit the amount payable to any third party, should the need arise. I have never seen any Insurance Policy (And let me assure you that, as you well know I didn't come down with the last shower of rain), without any limits of cover stated clearly therein. Plus of course, is there any excess to that Policy.??

    Who knows....definitely not me, nor anyone else frequenting these threads either. Unless of course they are some company representative posting in disguise..

    It would be ridiculous then, (Although I am only guessing here ) to think that a Board of Directors could sack an employee based on the pretence that their Insurance company will cover all of the costs, and not the Company itself.

    Cheers mate.
 
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