Insurance expert witnesses may opine on commercial liability policies, business insurance, and liability insurance, among other topics. In How Small Businesses Can Buy Peace of Mind, ABMN staff write:
Potential lawsuits are one of the biggest unknowns that can shut down a small business. In 2011, small businesses are projected to incur $152 billion in tort liability costs, according to the U.S. Chamber Institute for Legal Reform. Professional liability insurance can be an easy and inexpensive way to cover the defense costs of possible lawsuits.
“Everybody make mistakes, but these don’t need to be fatal to your business and your other assets,” said Kevin Kerridge, small business insurance expert from Hiscox USA. “However, small businesses are vulnerable to lawsuits even if they’ve done nothing wrong. Purchasing professional liability insurance for a small business allows owners to focus on their customers and worry less about potential troubles around the next corner and any potential attorneys’ fees.”
Read more: americanbankingnews.com.