Rabby
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If you're an employee or board member the company's general liability insurance will cover you just like it covers the company - for example if someone slips and falls, or if your product harms someone. So that's just a matter of having appropriate limits.
If you're a director or officer, you can cover your risk for suits regarding the governance of the organization using Directors and Officer's liability insurance. Likewise, if you are acting in a professional capacity (financial services, engineering, etc), you can get coverage under Errors and Omissions insurance.
Whether you can realistically be held liable depends on your position with the company. If there's any chance of being named in a lawsuit and needing defense, you can always make sure you have the appropriate types of liability insurance in place. That will transfer your risk to an insurance company that can afford it.
If you're a director or officer, you can cover your risk for suits regarding the governance of the organization using Directors and Officer's liability insurance. Likewise, if you are acting in a professional capacity (financial services, engineering, etc), you can get coverage under Errors and Omissions insurance.
Whether you can realistically be held liable depends on your position with the company. If there's any chance of being named in a lawsuit and needing defense, you can always make sure you have the appropriate types of liability insurance in place. That will transfer your risk to an insurance company that can afford it.
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