Running a business is a matter of managing the ups and downs.  Hopefully more ups than downs.  Whether part of the board or one of the top executives in a corporation, you realize you’ve got to handle the pitch and roll in order to keep the business afloat.  Particularly in these difficult economic times. During financially difficult times people are more prone to seek out and take legal action against any perceived corporate misstep.  Top-level decisions can be challenged by investors, regulators, and even criminal prosecutors.   And, so it is more important than ever that directors understand their obligations and potential liabilities.
[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text] In medicine, we hear a lot about preventative care.   In matters of asset protection, doctors would do well to follow their own advice.  Physicians should prevent their assets from becoming vulnerable to a frivolous lawsuit.  Being sued leaves much more at risk than a medical practice. Injured parties are seeking compensation for injuries received and in many cases a civil action against the physician to prevent further malpractice by the medical professional. Personal assets of the physicians are always looked at as a possible means of receiving compensation. Personal assets come into play in one of two ways:
  • If a judgment exceeds your medical policy limit
  • If the action in question falls under one of the policy exclusions