E&O
- Rating: No Rating
If I buy an estabilshed company- and they have been around along time. Will my new E&O cover old liability. I realize I will eventaully have to have the lawyers etc look in to this- but I am just figuring out if it's worth pursuing that-or is it better to just start a new company.
BAY
BAY
Replies to This Discussion
-
Permalink Reply by Katrina Laflin on -
That is a good question for your agent as it could vary depending upon your policy and coverage. As it was explained to my and as it pertains to my policy, your new policy would not cover work done prior to the commencement date on that policy. Should legal action be taken on work that was performed prior to your purchase, the former owner's policy should be attached for the suit. You may consider part of your purchase agreement requiring their policy be kept in force for a period of time for this sort of issue. But again, this is a question for your agent as the laws vary from place to place. Good luck to you!
-
Permalink Reply by Keith A French on -
Go direcly to your E & O Company and ask your question.
Sign in
Advertisements
Land8 Jobs
Search
Do a full search of Land8:
Badge
About | Advertise | Code of Conduct | Contact | Contributors | Feeds | Press | Sponsors
© 2010 Created by Andrew Spiering.
