What type of liability should a game shop have Unlimited or limited liability?

Answer Get what you can afford. If it is limited, talk to the agent about what would be considered a safe amount.

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What is the difference between a limited liability corporation&a limited liability partnership?

A limited liability partnership (LLP) and a limited liability company (LLC) contain elements of a general partnership combined with liability protection for the business owners. In states like Cali... Read More »

What type of liability insurance can you get to lease a commercial building for personal non-business use or is an umbrella policy from your homeowners liability insurance enough for the landlord?

Umbrella policies are often written as "following form" which means it only provides coverage if your primary (i.e. homeowners policy) provides coverage. Ask your insurance agent if you need to add... Read More »

What does limited liability mean to corporations?

In 1977, Wyoming became the first state in America to allow businesses to organize as limited liability corporations or companies. Since then, all states have followed suit and, as a result, busine... Read More »

What is limited Liability insurance?

Answer Limited liability is a concept whereby a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a company or partnership with limited li... Read More »