Don’t Get Caught Holding the Bag If Your Company Is Sued

There is no set formula regarding how much liability insurance a business needs. However, the more coverage you have, the more bulletproof your company becomes.

If you are running a very successful business, you will probably want minimal disruption if an incident occurs in which you may be seen as liable. Therefore, the more coverage you have, the greater the likelihood that your company will not be affected by such an incident.

Conversely, if you don’t have enough coverage, the incident may result in you paying hundreds of thousands — if not millions — of dollars out of pocket. For many companies, that would be a death knell. Don’t Get Caught Holding the Bag If Your Company Is Sued