1. Free Legal Help, Legal Forms and Lawyers. TheLaw.com has been providing free legal assistance online since 1995. Our most popular destinations for legal help are below. It only takes a minute to join our legal community!

    Dismiss Notice

When the Coporate Veil is "Pierced" What Insurance Covers?

Discussion in 'Life Insurance, Annuities & Other' started by Guest, Aug 25, 2014.

Thread Status:
Not open for further replies.
  1. Guest

    Guest Law Topic Starter Guest

    Hi Everyone,

    I run a small business under a registered LLC in CT. I have been recently looking into purchasing both or one: Small Business Insurance and or Personal Liability Insurance. My concern is having to do with piercing the corporate veil. Bottom line: I want to make sure my personal assets are protected as much as possible. Since my business is online and does not have many assets I am not too concerned about losing those (just the personal ones). So my question is:

    Lets say that someone sues my company and somehow they are able to pierce the corporate veil and come after my personal assets. If I had one of these insurance types which one would cover my personal assets? I assume its the personal liability insurance but was thinking it might be the business insurance... Any thoughts? Thanks for the help!
     
  2. army judge

    army judge Super Moderator

    Messages:
    33,239
    Likes Received:
    5,317
    Trophy Points:
    113

    If you're incorporated properly, you'd have to have tried to destroy your company in order for anyone to come after your personal stuff.
     

Share This Page

Thread Status:
Not open for further replies.