Risk

[zimby]

Hi All

So my partner will have finished her Midwifery degree at the end of next year and we'll be finally enjoying 2 incomes again.
This got me thinking about risk.
I have always assumed babies just fell out with midwives sitting around drinking tea, however after 2 years of non stop baby talk I now know better.
I understand they are not doctors, but still work in a moderately high risk environment where situations can change rapidly.
So my question for the lawyer types, how often do people who work in this industry get personally sue'd.
Wondering if its time to investigate trusts.
My career carries very little risk.

 

[Propertunity]

I have always assumed babies just fell out with midwives sitting around drinking tea,

You and I need to have a little talk

...how often do people who work in this industry get personally sue'd.

Society is becoming more litigious. Having babies carries risk - and parents often look for someone to blame when things don't go perfectly.

My career carries very little risk.

Correction...your PRESENT career carries very little risk. Bear in mind, you may change careers many times during your working lifetime.

Also it is not just about you career. Do you drive a car? Do you play a sport? ....many areas of life where others can sue you.

 

[redwing]

how often do people who work in this industry get personally sue'd.
.

Google would say plenty

A Homebirth midwife was sued and ordered to pay $6.6m and later arrested trying to leave the country

 

[DaveM]

To the trustmobile!

 

[zimby]

Things to definitely think on.
Wonder if there are any statistics on these sorts of things.

 

[Mr. Fabulous]

How does one get sue'd? Do the powers that be force you to change your name to Sue or how does it work?

zimby, talk to an insurance broker that specialises in the medical field. They may be able to help you with your questions.

 

[cu@thetop]

So my question for the lawyer types, how often do people who work in this industry get personally sue'd.
Wondering if its time to investigate trusts.
My career carries very little risk.

In my 20+ years as a lawyer I haven't been sued once. Does that mean I (or my employees) haven't been negligent? Nope. If there is a stuff up with settlement figures it is easier to tip into my pocket to pay it off. All professionals usually have to carry insurance and my excess starts at 15k ( but can easily go to 45k) so a few bad days can put me on skid row. Law is a high risk game although I can commonly sense a problem child before it ripens.
I'm still a sole trader- I will switch over to a corporate structure one of these days I expect-but I am transitioning the ownership of all assets to my partner's name. Not a problem if we bust up- Family court can address the ownership imbalance. My latest home purchase was 99% partner and 1% my name. I haven't gone down the trust path as I like to keep things simple.

Do I see clouds on the horizon? Nope but I suppose the one thing I have learnt is to do this stuff now and not at the 12th hour. Having some experience as a litigator I know a few tricks that can stall creditors if it came to that (yes- there are tricks you can do to stop a bankruptcy petition) but you must assume that one day it will catch up and you don't want your life's work going to some $550 /hr liquidator/receiver/trustee in bankruptcy.

The thing is-when the claim hits-the really damaging one- chance are it will strike almost like a bolt from the blue. I think I've seen it all and yet frequently I am reminded that I haven't- and there are losses your insurance won't legitimately cover. Think of it like a Tomahawk cruise missile-flying under the radar and by the time you notice it - well it's too late.

95% chance it will never happen and I'm being a drama queen. The other 5%- and as of late my luck hasn't been too flash-will cause you pain, suffering and loss. Or to put it another way- there will be grinding and gnashing of teeth.

Make sure your assets have an exit strategy- even if you don't.

In this case claims against Midwives usually are as the result of catastrophic injury, commonly resulting in damages awards in the multiple millions. Your Missus is the one in the firing line. Act accordingly.

 

[Terry_w]

It would be extremely rare for a medical professional to be sued due to their work and every rarer for the individual to be sued. Vicarious liability means the employer would be sued. She could be sued if she did something stupid like using the wrong technique (I am making this up) not authorised by the hospital or working while drunk etc.

If she goes into midwifery business then she has added risk (do they do private home work??).

More chance of getting sued in relation to something other than work - contractual stuff, tenants, banks and vendors etc.

 

[zimby]

Thankfully she's of the opinion that Home birth is an unnecessary risk and not likely to be doing any of these.
I'll consider it medium Risk and action accordingly.

 

[Scott No Mates]

Weigh up the risk factors: Is she an employee? Is she employed by the state/private hospital system? - How often/likely is it for an employee to be sued? Is she, in her role as mid-wife, required to independently hold PI insurance?

If she is self-employed/working for her own company & providing contract labour to the hospital system, then she/her company will be bearing the risk (or minimising by offsetting the risk to the insurers).