|
coast of Maine | When you buy an insurance policy along with that comes "The duty to Defend",the insurance co does not want to part with $$.The 2 million dollar umbrella along with the original policy is quite a big carrot that the insurance co does not want to lose.The lawyers they have are better than you can afford off the street.The most important thing is to never run afoul of standard practices.No OUI ,No racing,nothing for illegal biz,this in turn will be reflected on what a trial or settlement looks like.If you are a known hazard and the insurers both know it the possibility exists to go over the umbrella limit,,but was told not common.It is fraught with risks,seperate your biz from your land assets,incorporate your biz,be a good co.,and the risks are less.Both insurance and biz model adjustments are needed.BTDT.The term used in transport biz for huge awards "Nuclear Verdicts" | |
|
Umbrella insurance Policy
