Whether your personal assets are at risk can also depend on your insurance. As a rule of thumb, all businesses should have public and products liability insurance.
if you have liability insurance, the first step is to look at what that liability insurance applies to and it depends on what you're being sued for if – you're being sued because of nonpayment of debt or breach of contract, that's not really an insurance matter.
Professional indemnity and management liability insurance are also commonly called upon to protect businesses and individuals being sued.
Please contact us as soon as you find out you're being sued, or become aware that somebody might sue you.
We will inform the insurer and help make sure that the insurer extends indemnity, in any liability claim there's actually two claims – one is the claim by the third party against the insured, and the other is the insured's claim under the policy.
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