Why couldnt trustees speak up over the last several months and share the financial situation?
This was extremely frustrating for members, as well as the trustees. This was something we expected, but were forced to endure for the best interests of AHRMA and our membership. Here, in very condensed form, are some of the major reasons why we were forced to withhold comment. ● Our financial situation. Due to the failure of our insurance company, we were faced with the reality of only $300,000 coverage from the Wisconsin insurance insolvency fund, instead of our originally inured amount of $1 million. Even then, we expected that this would easily cover our defense in this case. We entered 2006 with approximately $70,000 in this fund after five years of Mr. Iannuccis draining tactics (documented in the legal memorandum we filed on Nov. 14 and posted on our website). While Mr. Iannucci knew the amount of our original coverage, it wasnt clear if he knew the exact amount of the reduced coverage. Plus, he did not know if we were able to secure additional coverage amounts or secure other b
