Verak Profile picture
Apr 29 10 tweets 3 min read
A man sued his company for throwing him a surprise birthday party
He won $450k!

A Kentucky man was recently awarded $450,000 in a lawsuit against his ex-employer for throwing him an unwanted birthday party that triggered stress and anxiety.
(1/10)
Evidently suffering from an anxiety disorder, Mr. Berling had asked his manager to not throw him a birthday party at work as it could potentially result in a panic attack and bring back uncomfortable childhood memories.
(2/10)
Despite his plea, the company threw him a surprise birthday party in August 2019, triggering a panic attack and causing him to leave abruptly. But, his ordeal didn't end there.
(3/10)
The following day, Mr. Berling was confronted at a meeting and admonished for "stealing his co-workers' joy" and "being a little girl".

This encounter induced another panic attack following which he was sent home and unceremoniously fired days later.
(4/10)
Mr. Berling’s lawsuit alleged that the company had discriminated against him because of a disability and treated him unfairly for asking to be accommodated for it.
(5/10)
After a two day trial in March 2022, Mr. Berling was awarded $450,000 by a jury, including $300,000 for emotional distress and $150,000 in lost wages.

The company continues to deny any wrongdoing and is moving to file an appeal.
(6/10)
However, this judgement still makes us wonder– how are companies equipped to give out such large amounts as compensatory damages?

Through Liability Insurance policies!
(7/10)
A Directors and Officers (D&O) Insurance policy, for instance, covers acts of negligence or misconduct made by a manager that result in bodily injury, illness, or harm.
(8/10)
With the help of this policy, the company can pay for legal expenses and court ordered damages to the claimant.

Policies like this not only safeguard the business’s financial standing but also ensure that claimants are fully paid their due compensation.
(9/10)
Equip your business with a D&O cover here: bit.ly/3Lzitz1
(10/10)

#VerakInsights #India #insurance #business

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More from @VerakInsurance

Apr 28
Women-led MSME registrations jumped 75% in FY22

Udyam portal, the official gateway for MSMEs (Micro, Small, and Medium Enterprises) to register in India, saw a 75% increase in registrations for women-led MSMEs in the financial year 2021-22.
(1/7)
In contrast to 4.9 lakh registrations in FY21, there were over 8.59 Lakh registrations by women-led MSMEs in FY 2022. Although a sharp rise, the total share held by women entrepreneurs is still only around 17% of the total count.
(2/7)
Regardless, the monumental rise of new women-led MSMEs shows how the MSME space is slowly but surely becoming more inclusive. With more and more schemes being launched by the government for the benefit of small businesses, women-led enterprises have not been overlooked.
(3/7)
Read 7 tweets
Apr 27
Why was pop-icon Jimin’s luxurious apartment seized by authorities?

Park Ji-min, popularly known as Jimin, a member of the famous South Korean boy group BTS, recently had his house seized by authorities for not paying his Health Insurance premiums.
(1/9)
According to reports, South Korea’s National Health Insurance Service temporarily impounded Jimin’s $4.7 million Nine One Hannam house located in Seoul for failure to pay his dues.
(2/9)
However, a statement released by BTS’s record label, Big Hit entertainment, revealed that Jimin was not even aware of his overdue premiums!

As it happens, any mail sent to an artist’s residence is received by Big Hit first.
(3/9)
Read 9 tweets
Mar 14
Sonam Kapoor’s father-in-law's company was cheated out of ₹27 Crore!

Shahi Exports Pvt. Ltd., an apparel manufacturing and exporting company run by actor Sonam Kapoor’s father-in-law Harish Ahuja, has recently been a victim of a highly sophisticated cybercrime.
(1/8)
Approximately ₹27 Crore was stolen from the company by a gang of cybercriminals who were busted by police in Faridabad, Haryana.

The fraudsters operated by misappropriating the firm’s ROSCTL licences with the help of Ahuja’s forged Digital Signature Certificate.
(2/8)
ROSCTL (Rebate of State and Central Taxes and Levies) licences are incentives given by the government to export-import firms and are similar to digital coupons worth several lakh rupees.
(3/8)
Read 8 tweets
Mar 11
#SpaceX launches 48 new #Starlink satellites into orbit!
Are they insured?

Elon Musk’s aerospace company SpaceX successfully deployed 48 new Starlink satellites into orbit this Wednesday. (1/5)
Starlink is a constellation of broadband satellites that SpaceX is assembling in low earth orbit to provide internet access to most of the world.

This mission to provide high-speed internet to remote locations has been widely commended, but it isn't free from controversy. (2/5)
As over 6000 #satellites orbit Earth, many astronomers have pointed out the increasing chances of collision with an aircraft or another satellite. If such a collision were to occur, the loss would be astronomical!

And this is where Satellite Insurance becomes useful. (3/5)
Read 5 tweets
Dec 6, 2021
Why did Apple momentarily stop sales in Turkey?

The Turkish Lira has fallen to a record low due to controversial interest rate cuts. This year witnessed a 45% drop in the value of the currency, with a historic 15% decline on Nov 23.
(1/10)
With inflation at its peak, goods priced in local currency are being sold at steep discounts.

And so, Turks are rushing to stores to buy valuable electronic goods like Apple products as investments, since they’re likely to find a good resale value for them in the future.
(2/10)
The situation in Turkey became so dire that Apple decided to halt the sale of its products in the country altogether, with buyers receiving error messages on its website.

Sales resumed a few days later with significantly higher prices.
(3/10)
Read 10 tweets
Nov 2, 2021
How a botched surgery cost two doctors ₹28.5 Lakhs

In March 2010, a woman from Dombivali Mumbai, sought relief from severe body ache and exhaustion. She subsequently contacted two doctors for her treatment.
(1/9)
Little did she know she was about to be pulled into a decade-long legal battle.

She alleged that the doctors performed surgery on her without her permission and without explaining the risks involved. Moreover, the surgery led to permanent damage to both of her ureters.
(2/9)
In 2012, she filed a complaint against the two doctors with the State Consumer Disputes Redressal Commission.

Her complaint further stated that she had to get another surgical procedure with a different doctor a year later.
(3/9)
Read 9 tweets

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