An insurance policy covering up to $1,000,000 might seem sufficient to protect your company financially in the case of a lawsuit. Considering skyrocketing legal and medical costs, business owners are discovering it isn’t anymore.
A delivery truck rear ends a passenger vehicle. The vehicle driver is injured, requiring an ambulance, emergency medical care and an extended hospital stay, plus long-term physical therapy. You’re contacted by an attorney representing the driver. Your company is being sued for the driver’s medical costs and lost wages over the extended period he is off work, plus of course, legal fees.