Three Layers of Liability Protection
To kick off a brand new season of Get It In Writing, we’ve got a big topic for you today! What if something goes wrong in business, you get sued, or if the unexpected happens and causes liability to you or your business? These “What If” scenarios can keep business owners up at night, and in this episode, Corinne Boudreau explores the layers of liability protection that can go a long way to help give you peace of mind, and the maximum legal protection!
Today you’ll hear about:
- How to set up the base layers of protection in your business with contracts and policies, and the very first place to start in this process
- The ways in which commercial insurance differs from other types of insurance and how it can protect your business from certain risks
- How choosing the right legal structure for your business can provide you liability protection
- Nothing is perfect! A few examples of when business owners can be personally held liable, even if the business is incorporated….
Mentioned in the episode:
Episode 37 - Three Important Places To Put Disclaimers To Cover Your Butt: https://www.spreaker.com/user/16866475/three-important-places-to-put-disclaimer
Episode 26 - How To Have A Work Party Without Liability: https://www.spreaker.com/user/16866475/how-to-have-a-work-party-without-liabili
Episode 16 - Are Legal Waivers Legit?: https://www.spreaker.com/user/16866475/are-legal-waivers-legit
Episode 11 - The Four Legal Things You Need on Your Business Website: https://www.spreaker.com/user/16866475/the-four-legal-things-you-need-on-your-b
Episode 9 - The Three Types of Legal Structures for Your Canadian Business: https://www.spreaker.com/user/16866475/the-three-types-of-legal-structures-for-
Episode 8 - What contracts to use when you are hiring someone: https://www.spreaker.com/user/16866475/what-contracts-to-use-when-you-are-hirin
Episode 7 - What to put in your client contract: https://www.spreaker.com/episode/51855088
Blog Post, Avoid Nasty Surprises with Proper Insurance Coverage for Your Online Business
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Listen to Get It In Writing on Apple, Spotify or wherever you catch your favorite podcasts!
For more please visit OnlineLegalEssentials.ca and connect with Corinne on Instagram at www.instagram.com/legalguidecorinne/
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Key Quotes:
“Your most important contractual relationship is with your clients, customers, or patients, whatever you call them, so you want to make sure that you are protecting yourself in that relationship.” [4:16]
“You should be looking into what types of commercial insurance you think your business needs and what risks are out there to be covered.” [9:33]
“One of the main calls to action, the things that I suggest that people do, is to find a commercial insurance broker who understands your business, and then have regular discussions with them.” [10:40]
“I always think of corporations as a box, and by putting the business inside the box, you are separating those potential liabilities from your personal liability.” [15:46]
