Maybe it’s the business protection version of “How much does a pound of feathers weigh?” The clients asked, “If a limited liability company is a great way to protect assets, then why is it limited?”
Great question. Read more
Lawsuits are filed for all sorts of reasons. (For some really bad reasons, check out www.StellaAwards.com, which is named for the woman who sued McDonalds over that hot coffee.) Unexpected things also happen, and sometimes they lead to suits. And people in affluent areas are easy targets to blame . . . and sue. So how do you hedge the bet? I can wait, right? Won’t my liability insurance protect me?
Maybe. It’s great to have coverage, so the insurance company’s lawyers come in to handle when you’re sued and the insurance can cover any damages.
But what if you’re sued for something which isn’t a covered risk? Read more