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

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

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  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

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    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.

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