Lawsuits can reach astronomical figures. Philip Morris was once ordered to pay $28 billion (later reduced to $28 million), and General Motors paid $150 million to settle a class-action lawsuit. How to Buy: The Process Product Liability Insurance
A small business sold handmade pet toys at a craft fair, only to realize afterward that they lacked both an LLC and insurance. They faced the terrifying possibility that a single accident with one of those 50 toys could lead to a million-dollar lawsuit. buy product liability insurance
Most businesses start by viewing product liability as just another bill until a scenario like these occurs: Lawsuits can reach astronomical figures
Buying product liability insurance is often a "long story" because it moves from a simple checkbox for business owners to a high-stakes legal shield that can determine whether a company survives a single mistake. The "Why": When Reality Hits They faced the terrifying possibility that a single
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