I harp non-stop about the dangers of a Claims Made General Liability Insurance Policy.
Here is a real life example in which Gwyneth Paltrow is just now being sued from a skiing accident from 2016. This could cost her millions (insane but so is the legal system in our country in my opinion).
Remember a Claims Made General Liability Insurance Policy covers you when the claim is actually made, not when the occurrence took place. What happens if a lawsuit comes in after you sell or shut down your business for something that took place in the past? What insurance policy is covering that?
Our goal is to provide you with the information to make an educated decision on what is best for you. If choosing a claims-made policy is in your best interests, we totally support it, but we just want you to understand what it means.