Future with Rick Edelman but I have to acknowledge the pretty cool RIA database has just announced its ranking of the top 100 wealth managers in the United States The researchers ranked firms based on their total assets under management as reported on their SEC filings as of September 30th and ranked number one is Edelman financial engines It's nice to go out on top You know one of the things that I've always really enjoyed about this program the most is the interaction with you The ability to take your questions and give you the information that you need to help you improve your knowledge comprehension and to help you figure out the direction that you might want to take with the issues that you're facing And I get lots of emails every week from listeners around the country and I'd say the overwhelming majority virtually all of them are insightful thoughtful You have a really good grasp of your personal situation You understand what's going on and you simply want to know what's the best course of action to take from there Every so often though I get an email that is a little bit wacky Like I got an email not long ago from Stephanie she said that she won a $79 billion award from Bill Clinton and she wants my help in investing the money So there's some folks that are frankly beyond my ability to help But then there's an occasional very rare email from someone who has an issue with something that I've said on the show and just this last week I received an email from listener Dan gross Krueger and here's what Dan wrote Rick I have stopped listening to your radio show But today just as I was reaching for the dial to tune away from your show I heard you say something ignorant and stupid Despite my previous attempts to appeal to your sense of responsibility it's still appears that you're a prone to veer out of your lane on your radio show I wish you would stay with financial subjects that you know something about because it tends to cast doubt on the reliability of your financial advice when you say ignorant stupid things pertaining to subject matter about which you know nothing Today you are talking about umbrella insurance and you urged your listeners to look into purchasing such coverage since its relatively inexpensive and provides protection against unexpected lawsuits That's good advice as far as it goes But you brought up dog bites As one of those unexpected events that might get you sued You then volunteered the following quote the average settlement for a dog bite is $30,000 Nonsense Where did you read or hear such garbage I believe you will recall that I am an attorney Now for 40 plus years and I can assure you that your information is bogus Before you make more ignorant and stupid statements on your radio show please do some research and verify your facts You are contributing to fake news by throwing out such false information about subject matter not in your lane merely because it fits your narrative Please don't contribute your own version of misinformation to the flow of false and misleading news that is deliberately camouflaged as information Again my advice is to seriously consider adopting humility as your personal goal since humble individuals are far less likely to make faulty assumptions about what they think they know Signed Dan gross Kruger risk management Inc of Solana beach California Wow Gee Dan ignoring and stupid That my statement that the average settlement for a dog bite is $30,000 is nonsense Garbage My information is bogus I need to do some research and verify my facts Well Dan guess what The insurance information institute has a study on this They've been tracking the number and cost of dog bite claims since 2003 According to the American pet products association and the American veterinary medical association there are 63 million U.S. households that have a dog at a total of 77 million dogs Because lots of people have more than just one The insurance information institute says millions of people are bitten by dogs every year Most of them children In 2017 350,000 people were treated at hospitals for non fatal dog injuries 10,600 of them were children under the age of two and according to the insurance information institute and State Farm nationwide in 2020 there were 17,000 dog bite claims and other dog related injuries Insurance companies paid out claims of $854 million The average cost proclaim is not any longer $30,000 that I cited it's now 50,425 In insurance information institute says this number has gone up because of settlements judgments and jury awards that are trending upwards The trend in higher cost per claim is attributable not only to dog bites according to the insurance information institute but also to dogs knocking down children as well as bicyclists and the elderly and these injuries add to the financial claims So attorney Dan gross Kruger of risk management in Solana beach California looks like what I said wasn't so ignorant and stupid after all Looks like my statement wasn't nonsense or garbage My information wasn't bogus Looks like I did do some research and did verify my facts And guess what Looks like you didn't Instead you just decided to pop off at the mouth and send me a pompous email accusing me of unprofessional conduct Who's being unprofessional here attorney Dan crows Kruger of risk management and Solana beach California Should we or should we not Follow the advice of the galactically stupid Well Dan's not hearing this because after all he hates my show He doesn't tune in So let's you and me return to the main issue Two thirds of U.S. households have a dog That means probably you So listen up In 29 states according to the American property casualty insurers association if you're a dog owner you are liable for injuries your pets cause There are exceptions like if the dogs provoked Most attacks are misdemeanors but in extreme cases can be felonies If you own a certain breed some states require that you have at least a $100,000 of liability insurance Golly gee Dan gross Kruger of risk management and Solana beach California Would that be necessary if dog bites weren't a legal risk There are three kinds of laws you need to be aware of There's a dog bite statue You're automatically liable for any injury or property damage your dog causes There's the one bite rule Your responsible for any injury or dog causes if you knew the dog was likely to cause the injury The victim has to prove you knew the dog was dangerous and negligence laws You're liable if you're careless and controlling your dog Be aware you could be charged with serious crimes if your dog attacks and severely injures someone Three times dog owners have been convicted of murder after their dogs killed someone Maybe you didn't know any of this Okay you're not.