Members of a limited liability company are the owners of the LLC. One of the principal purposes for creating the LLC is to shield owners from financial liability related to the operations of the LLC.

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Penny Gusner is a senior insurance writer and analyst at Forbes Advisor. For more than 20 years, she has been helping consumers learn how insurance laws, data, trends, and coverages affect them. Penny ...

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Explore how aggregate limits of liability work in insurance, their impact on policy coverage, and why understanding them is crucial for policyholders.

The American Subcontractors Association is warning its members to beware of contract language that may force subcontractors or their insurance carriers to pay for accidental loss, injury or property ...

Christy Bieber has a JD from UCLA School of Law and began her career as a college instructor and textbook author. She has been writing full time for over a decade with a focus on making financial and ...

Health systems were already under pressure to increase collections as patients assumed more financial responsibility for their care. But now, the COVID-19 pandemic has resulted in high unemployment, ...

Discover how Unlimited Liability Corporations (ULCs) work in Canada, their shareholder liability implications, and the tax ...

Liability-only insurance pays for injury and damage to others you're responsible for. In comparison, full-coverage policies cover both your liability and property damage to your own vehicle. When ...