The potential bankruptcy of one of California's largest utility companies, Pacific Gas & Electric, could have been prevented with higher General Liability limits and Excess Liability coverage.
A lawsuit suggesting that the utility company is responsible for the recent wildfires in California that killed 86 and displaced 50,000 people from their homes, illustrates why most companies need to reevaluate their current insurance coverage limits to protect their financial interests.
The standard for the past 20 years has seen General Liability policies cover $1 million for each occurrence, $2 million in the aggregate and $2 million for products and complete operations. However, inflation alone can out-date those numbers quickly. Most businesses will want to consider layered Excess Liability policies that could cover bodily injuries, property damage, third party damages, legal costs and more. Aniello Insurance will help you will help your Nevada business assess your coverage needs. Even smaller businesses have risks that can result in catastrophic damages.