FAQ'S: BUSINESS MANAGEMENT

My client is high profile and I’m not sure what limits of liability they should have to adequately protect them from lawsuits. What is a good way to determine this amount? The reason for liability insurance is to protect the person or business from financial harm stemming from a lawsuit. - The first place to start is to determine the total assets you are trying to protect. - The next measure is exposure — how many vehicles, young drivers, homes, watercraft? Each one increases their exposure to loss. - The next consideration is their appetite for risk. - Finally, the cost is always a consideration. The premiere insurance companies can offer up to $50,000,000 of personal liability and there are ways to increase this even further.

My client travels frequently all over the world. How does this impact their coverage and are there any other types of policies that you would recommend? Clients who travel internationally definitely have an increased exposure to loss. We recommend the following: - Increased limits of Umbrella liability. - Kidnap & Ransom insurance to provide not only funds for negotiation but expertise to handle the negotiation. - Travel Accident Insurance to offset the financial costs of dealing with a terrible accident. - If traveling for business purposes, a Foreign Exporters Package to protect the business from lawsuits in foreign territory.