Gumpmaster
Structural
I have some co-workers who are buying personal E&O insurance even though they work for our company which has it's own insurance. They have a lawyer friend who is recommending it because the "new trend" is to not only sue the company, but the individuals employed by that company on an individual basis to go after their personal property.
Even if it's not a valid claim, the cost of defending yourself personally against the suit would be tremendous and it's cheaper to settle out of court.
Has anyone heard of this? Will your companies insurance defend you if you're named as an individual in a suit? What if they skip naming the company and directly sue you because you stamped the drawings?
I know, I know, ask a lawyer. But I want to see what you all think first.
Even if it's not a valid claim, the cost of defending yourself personally against the suit would be tremendous and it's cheaper to settle out of court.
Has anyone heard of this? Will your companies insurance defend you if you're named as an individual in a suit? What if they skip naming the company and directly sue you because you stamped the drawings?
I know, I know, ask a lawyer. But I want to see what you all think first.