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Family dogs contribute to financial collapse

September 14, 2009

attackdogEconomists, regulators and bankers all contributed to the financial crisis. Today, the family dog joined that list.

Rocky just learned that “man’s best friend”  is being blamed for contributing to insurance giant AIG’s collapse, as well as the skyrocketing cost of health care.

The Insurance Information Institute reports that dog bites represented a third of all homeowner insurance liability claims in 2008, and cost insurers $387.2 million, up 8.7% from 2007. 

“In the last year, the number of claims rose nearly 9% from 14,531 to 15,823. More than 4.5 million Americans are bitten by dogs each year, with nearly 900,000 requiring medical care, according to the Centers for Disease Control and Prevention. In 2006, more than 31,000 victims required reconstructive surgery.” 

Click here for the Insurance Information Institute report entitled “Avoid Being Bitten By A Lawsuit By Being a Responsible Dog Owner:”   http://www.iii.org/Press_Releases/Avoid-Being-Bitten-With-a-Lawsuit-by-Being-a-Responsible-Dog-Owner.html

[Disclosure: Rocky lives in a state where repeat Felons face a “three-strike-and-you’re out,” mandatory life sentence.  His state also has a “One-Bite Rule”where the owner is not liable for the first bite, but is fully liable for the second.  Rocky believes that the Criminal  and Dog Laws should be harmonized … so either wayward dogs  get three bites or repeat felons only get two. Accordingly, Rocky hopes Congress convenes a special Committee on Canine Culpability. ]

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  1. September 14, 2009 at 9:22 pm

    “…as well as the skyrocketing cost of health care.”

    Doggie death panels?

  2. September 15, 2009 at 8:26 pm

    Oh no…rofl @ doggie death panels. But for real, I am going through a homeowner’s insurance crisis at the moment, and no one will do it because I have a Doberman…10 years old and feeble as he is.

  3. September 16, 2009 at 12:09 pm

    Cat person here – I never knew one would look to the homeowner’s policy to cover the issues resulting from the bite of a dog. Makes me less inclined to heed the pleas of three small children begging for a dog.

    Might as well blame dogs for the collapse of AIG. Sounds more intriguing than the fact they blew up their business with a long run of terrible business decisions…

  4. September 16, 2009 at 12:18 pm

    Dave: “That dog don’t hunt.”

    Fakename: “He’s not getting older, he’s getting better.”

    Anne from Chicago: Rocky recalls the “butterfly effect” in chaos theory. (The flap of a butterfly can cause a hurricane on the other side of the world.) See: http://en.wikipedia.org/wiki/Butterfly_effect …. Here we have a real life example of the “Chihuahua Effect,” where the nip of a little dog brought down the world financial system. 😉

  5. September 16, 2009 at 5:24 pm
  6. September 16, 2009 at 5:29 pm

    Dave: Sadly, that’s just another example of the liberal bias in the news media.

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