Insurance and Risk Management

  • Overview
  • Attorneys

Risk, and the transfer and management of it, are fundamental aspects of your business.  Insurance is one mechanism to manage and transfer risk, along with vendor agreements, indemnity clauses and other actions.

There are a number of questions that every business needs to answer in order to mitigate risk:

  • Does your insurance actually provide the coverage you think it provides?  Is that what you need?
  • Does your business partner have an enforceable legal obligation to protect you? 
  • Perhaps more importantly, if your business partner is willing but unable to protect you, does your business partner have appropriate insurance and other protection in place? 
  • How valuable is that protection if your business partner is in bankruptcy? 
  • Does your own insurance afford appropriate coverage?
  • If you choose to litigate, have you identified and made every reasonable and sincere effort to resolve the issues? 
  • Do you understand the future consequences of this problem and its potential solutions, and have you accounted for the bias of those involved in the process?

In short, retrospective risk management is about reconnaissance and intelligence.  Not every problem and dispute is soluble without the often tragically large costs and uncertain exposure of litigation and trial, but with complete preparation and full consideration most risks can be resolved efficiently and cost-effectively.  However, our attorneys understand the firearms industry and the business of risk and we can effectively help you protect your company.