The United States is an extremely litigious nation where everyone can sue anybody for just about anything. Businesses are primary targets, with lawsuits (ranging from evident company errors to frivolous claims) reaching hundreds of billions of dollars a year. Either way, if a legal settlement or verdict exceeds your Michigan business’s liability coverage, your solvency would be at risk. For these reasons, it’s a wise move to get an umbrella business insurance policy which would provide added protection against disastrous losses arising from lawsuits.
Consider the following scenarios:
• One of your employees driving a company vehicle gets involved in an accident that injures others.
• A customer suffers from a slip-and-fall injury because your premises weren’t maintained properly.
• A manager is accused of harassment by an employee.
• You sold a faulty product that caused damage to a customer’s property.