It is common for high-net-worth clients to offer their skills, leadership, and expertise to boards of nonprofits, professional organizations, or homeowners associations. In many cases, clients assume director roles without properly assessing and planning to mitigate exposure to their personal assets. This Risk Tip highlights the...
This month’s HNW RiskTip is, in part, a follow-up to January’s titled: “Vicarious Liability, Nuclear Verdicts & Impact to HNW Families”. Readers responded to January’s RiskTip with two common questions: “Why would a homeowner be liable and/or sued by an injured contractor’s employee (landscaper, roofer,...
In July of 2024, the Wall Street Journal published an article titled “Nuclear Verdicts by Juries Get More Common.” The article highlighted the rising trend of social “class warfare” driving “nuclear” verdicts — defined as exceptionally large jury awards exceeding $10,000,000 – against not just America’s corporate...
