November 16, 201411 yr On another note regarding the settlements paid out by the NYPD: does anyone know where that money comes from? Is it just part of the budget?
November 16, 201411 yr But don't you think that the cost of the body cams would be offset by the reduction in claims or lower insurance costs? I also agree with what JD said about legislation being needed in regards to the video records. That is something I never considered happening. You aren't getting what I'm saying. Most departments aren't getting sued to the tune of $735 million.
November 16, 201411 yr On another note regarding the settlements paid out by the NYPD: does anyone know where that money comes from? Is it just part of the budget? I would bet that it is paid by the cities insurance carrier. Once it gets to Insurance carrier they will look at the most cost effective way to close the claim...in most cases they will pay out a small amount to avoid high legal bills connected to going to court. Look at the Pulaski Jailers issues, 2 women so far have received settlements from the counties insurance carrier of around $135,000 each as it would have probably cost much more than that to attempt to defend him in a trial. BTW there is one more pending case against him that will settle soon or go to trial.
November 16, 201411 yr I would bet that it is paid by the cities insurance carrier. Once it gets to Insurance carrier they will look at the most cost effective way to close the claim...in most cases they will pay out a small amount to avoid high legal bills connected to going to court. Look at the Pulaski Jailers issues, 2 women so far have received settlements from the counties insurance carrier of around $135,000 each as it would have probably cost much more than that to attempt to defend him in a trial. BTW there is one more pending case against him that will settle soon or go to trial. My first thought is that would be the case. However, what insurance company would carry them? If they did what would the premium have be to be able to pay out 3/4 of a billion dollars?
November 16, 201411 yr You aren't getting what I'm saying. Most departments aren't getting sued to the tune of $735 million. No, I get what you are saying. But it would be proportional. They would need less cameras. Just one or two avoided lawsuits or a moderate reduction of the insurance premium could offset the cost. I'm not saying that the departments should find the money, I would think it would be worth it for the local government agencies to budget money for them. It just seems like it would be a good investment.
November 17, 201411 yr My first thought is that would be the case. However, what insurance company would carry them? If they did what would the premium have be to be able to pay out 3/4 of a billion dollars? My guess is that New York City is likely self insured. If they have insurance it is more than likely that it is a umbrella policy that would only kick in if a claim exceeds a fairly high threshold.
November 17, 201411 yr My first thought is that would be the case. However, what insurance company would carry them? If they did what would the premium have be to be able to pay out 3/4 of a billion dollars? I would think by state law they would have to be insured...maybe smaller settlements are paid out of the $4.7 Billion budget that they have, but I'd bet there is a policy to cover large settlements.
November 17, 201411 yr I would think by state law they would have to be insured...maybe smaller settlements are paid out of the $4.7 Billion budget that they have, but I'd bet there is a policy to cover large settlements. Can you imagine the premium on that policy?
November 17, 201411 yr NYC Budget is around $70 Billion per year, I'm sure as said earlier it's an umbrella policy that covers all city operations.
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