How will you know if your insurance company will require you to repay legal costs? Read your policy or talk to your agent , broker, or with the insurer. Insurers may be adding the clause to new policies or to renewing policies, so it’s important to know what your policy says.
It’s also important that you promptly report lawsuits to your insurance company. Reporting this information to the insurer too late can impede the insurer’s ability to defend your business against the lawsuit.
- Read more about the duty to defend and repaying legal costs.
- Who needs business insurance?
- Things to consider before buying business insurance.
Questions? Contact our consumer advocates online or at 1-800-562-6900.