INSURANCE TO PROTECT YOU AGAINST LAWSUITS

Unfortunately for every business owner, the chances of getting sued have dramatically increased in the last decade. General liability insurance can prevent a legal suit from turning into a financial disaster.

A general liability policy extends liability protection to a number of people involved in your business.

• If your business is a partnership or joint venture, this policy would cover all partners or members and their spouses - but only if they're sued because of something they did while acting in an official capacity for your business.
• If your business is a corporation or association, this policy would also cover all executive officers, directors, and stockholders-while acting in these official capacities.
• Your employees would also be protected-while they are acting in their capacity as employees.
  
• Your policy would also extend liability coverage to any subsidiary for which you own more than 50% of the voting stock.
• Any person or organization, such as a vendor, with whom you have a written agreement to indemnify, would also be protected against liability claims for any bodily injury or property damage that results from distributing or selling your products.
• Any newly acquired organization would also be protected under your policy, for a limited time period.
• Your legal representatives would also be afforded liability coverage under this policy-for any liability arising from the maintenance or use of your property in their care.
• While acting under your direction and within the scope of their responsibilities for you, any volunteers for your business would also be extended liability coverage.
  

• Amount the insurer spends to investigate or defend the claim or suit brought against you;
• Other costs incurred directly by the insurance company, such as attorney's fees, witness fees, and police report costs;
• Any court costs or other costs assessed against you in a suit;
• Reasonable expenses you incur at the insurance company's request to aid in your defense against a claim (such as your loss of income for a day spent in court);
• Any judgment or settlement arising from a covered suit;
• Any required interest on the judgment if the defense is unsuccessful;
• Medical expenses for injured parties;
• Premiums for any bonds required by a liability suit.