Congratulations! You are open for business.  You've set up shop and hung out your shingle.  You have probably prepared yourself by purchasing an insurance policy. Unfortunately, in today's increasingly litigious society, a general or professional liability policy still leaves you exposed and vulnerable.   One statistic states that 19 million lawsuits are filed each year. If you own a business, investment properties, or are a professional, you may have a one in three chance of being named in a lawsuit. If you are named personally in a lawsuit for something your policy excludes, your personal assets become fair game– home, financial accounts, life insurance policies that have a cash value, real estate, businesses, cars, electronics, investment portfolios, collections of art, antiques, etc. Lawyers are expert at identifying gaps and exclusions in insurance policies and consequently will go after damages that exceed your policy coverage.  They will come to huff and puff until they blow your house, your bank account, and any other personal assets all down.  An additional insurance policy may be necessary to make sure you don't lose everything to the big bad wolf.