Exposed! Look what your insurance company has "uncovered."

Entrepreneur, Oct, 2002 by Jacquelyn Lynn

When your general liability policy comes up for renewal next year, take a close look at what it doesn't cover anymore. Some significant changes have been made to the standard general liability policy most insurance companies write, says David W. Henry, an attorney with Allen, Dyer, Doppelt, Milbrath & Gilchrist PA in Orlando, Florida. Essentially, those changes exclude some previously covered risks in the areas of libel, slander, copyright and trademark infringement, personal and advertising injury and Internet-related activities.

If your company is at risk, consider alternatives or supplements to the traditional general liability policy. "Too many small businesses never take the time to look at the exclusions," Henry says.

Your options might be an industry-specific liability policy a supplemental Internet liability policy (also known as cyberliability) or a stand-alone trademark or copyright infringement policy. As the standard general liability policy narrows, the number of special-purpose policies is increasing to fill in the gaps. Some of these products are easily affordable; others are quite pricey. If you have an exposure you can't or don't want to insure, you may choose to approach the issue from a risk management standpoint. In any case, Henry advises, when your renewal notice arrives, talk to your agent and be sure you know what your policy does and doesn't cover.