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Top 5 Risks Facing Your Business

Owning a business means the buck stops with you. And while in many respects that’s a major bonus of being a business owner, it also means that you have a slew of potential risks to consider. One of the most overlooked risks is that of liability exposure. Here are the top five you should consider:

Commercial General Liability (CGL) – CGL generally covers bodily injury and property damage for which you are found legally liable; however, coverage differs from company to company. A general principle states that you should purchase $1 million of coverage for every $2 million in sales…

Who Needs Directors and Officers Liability Insurance?

I often hear, “We don’t have a board of directors, why do we need Directors and Officers Liability Insurance?”

It is a common misconception that officers of a privately owned company or a nonprofit organization are not at the same level of risk as public corporations. However, while the organization may not have a formal Board of Directors, those serving in a high-level management position such as president, vice president, secretary, chief financial officer or chief executive officer, are considered officers and are still at risk of a personal claim as a result of that position.

Directors and Officers Liability Insurance…

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