Cost of E & O insurance

[sutcac]

"And a lot easier to prove."

But still not that easy, in my understanding.

In reading through my recently renewed liability policy declarations, it's strikes me that the first part of those is based on their rights and responsibilities in defending you against a claim. So the first line of defense that you are paying for is not necessarily some easy deep pocket to go after for a judgement against you, but a good lawyer well versed in this area of law. Then on top of that you have a well of money to settle the claim or pay the judgement (usually settled out of court anyway) that will, if you are insured properly, keep your personal assets safe.

Seems to me the LLC approach is dubious as it doesn't provide money for any lawyer, let alone a good one well-versed in the pertinent law that the insurance company is obviously going to have to protect their interests, let alone yours.

I've said it before, the $6000 a year I pay for insurance doesn't go far with a good lawyer, I know this already from one lawsuit that I filed. It's a pretty reasonable cost as far as overhead in a business. The LLC seems far more risky.

Lew- Will you please go to bed? Even Richard out here in CA already signed off!