Disney Skyliner shutdown and evacuation - October 6 2019

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shernernum

Well-Known Member
Minthorne said:
That is mostly correct actually. They are self insured. It is ok for you to feel a bit foolish now :geek:
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Self-Insurance in large companies, and not carrying insurance are two different things. It can be splitting hairs here, but I assume it means they manage it themselves instead of having third party insurance. I don't want to get into a discussion about the nuances, but they are "insured." You can't really be in business without it. Also, most self-insurance still requires a third party additional insurance policy to cover against major catastophes. The company I work for is self-insured, however the different coverages (property, casualty, liability, healthcare etc.) are managed by 11 different outside companies. There is also a safety-net additional policy through Lloyds, to cover catastrophic shortfalls in the self-insurance program. Disney may be a big enough conglomeration that they have created their own management arm to deal with it (basically creating their own insurance company), but the principles would still be the same. I would guess that individual branches of TWDC are still required to pay insurance premiums, however those premiums fund the self-insurance program instead of a third party insurer. I'm not sure exactly how Disney handles it, but they are still "insured."
 
flynnibus

flynnibus

Premium Member
shernernum said:
I'm not sure exactly how Disney handles it, but they are still "insured."
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Thats just it... you read the posts as if they werent insured... where the real point of the post was about outside insurance companies. The fandom is familiar with the idea of disney’s self insured model and thats what was being inferred in the post vs having the risks being dictated by the insurance boogie man
 
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RustySpork

RustySpork

Oscar Mayer Memer
lazyboy97o said:
The Walt Disney World Monorail was always transportation. The Disneyland Monorail was and still is an attraction.


An incident requires permission from the Building Department before the Skyliner can resume operation
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According to the local news and monorail cast at the time, their insurance company forced the change from attraction to transportation. They also stopped riders in the front at the same time.
 
S

shernernum

Well-Known Member
flynnibus said:
Thats just it... you read the posts as if they werent insured... where the real point of the post was about outside insurance companies. The fandom is familiar with the idea of disney’s self insured model and thats what was being inferred in the post vs having the risks being dictated to by the insurance boogie man
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The initial post I was responding to basically painted Disney as a bogey man company who could just pay out of pocket to deal with a 100 deaths a year and didn't need insurance to deal with it. The original post did reference an insurance company, which I was wrong about them having. However, that was the only post I was responding to.
 
peter11435

peter11435

Well-Known Member
flynnibus said:
Thats just it... you read the posts as if they werent insured... where the real point of the post was about outside insurance companies. The fandom is familiar with the idea of disney’s self insured model and thats what was being inferred in the post vs having the risks being dictated to by the insurance boogie man
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Exactly.
When something happens like the monorail incident changes are often implemented but these do not come from some third party insurance company. These changes are dictated from corporate risk management and legal teams.
 
flynnibus

flynnibus

Premium Member
RustySpork said:
According to the local news and monorail cast at the time, their insurance company forced the change from attraction to transportation. They also stopped riders in the front at the same time.
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This is a distortion of what was happening. The whole “reclassification” tidbit is born in the big change that the NTSB got involved in the investigation - which they had never done before for a private property incident like this as its not generally in their purview. So the idea that the NTSB exercised some jurisdiction was this big change people were highlighting. But note, it is still not regulated as a federal railway.

As to the rider change, yes that happened, but no not due to “their insurance company”
 
RustySpork

RustySpork

Oscar Mayer Memer
flynnibus said:
This is a distortion of what was happening. The whole “reclassification” tidbit is born in the big change that the NTSB got involved in the investigation - which they had never done before for a private property incident like this as its not generally in their purview. So the idea that the NTSB exercised some jurisdiction was this big change people were highlighting. But note, it is still not regulated as a federal railway.

As to the rider change, yes that happened, but no not due to “their insurance company”
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It's a little fuzzy because it's been years but the story I was given was that it had been insured as an attraction prior to the incident, but after the investigation they were required to reinsure as transportation and one of the rules under the new policy was that guests were no longer allowed in the front. I'm not disputing that the Monorail has always been transportation, that would be silly. Perhaps "classified" was poor wording.
 
Minthorne

Minthorne

Well-Known Member
shernernum said:
Self-Insurance in large companies, and not carrying insurance are two different things. It can be splitting hairs here, but I assume it means they manage it themselves instead of having third party insurance. I don't want to get into a discussion about the nuances, but they are "insured." You can't really be in business without it. Also, most self-insurance still requires a third party additional insurance policy to cover against major catastophes. The company I work for is self-insured, however the different coverages (property, casualty, liability, healthcare etc.) are managed by 11 different outside companies. There is also a safety-net additional policy through Lloyds, to cover catastrophic shortfalls in the self-insurance program. Disney may be a big enough conglomeration that they have created their own management arm to deal with it (basically creating their own insurance company), but the principles would still be the same. I would guess that individual branches of TWDC are still required to pay insurance premiums, however those premiums fund the self-insurance program instead of a third party insurer. I'm not sure exactly how Disney handles it, but they are still "insured."
Click to expand...

Self-insurance is a situation in which a person or business does not take out any third-party insurance, but rather a business that is liable for some risk, such as health costs, chooses to bear the risk itself rather than take out insurance through an insurance company.

So they are not insured. They assume the risk.

Insured: pay premium and Insurance pays out claims to a contracted limit.
Self Insured: Save your money on premiums and when there is a claim you have to pay it all.

When self insured the only "insurance" they have is deep pockets.
 
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