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Wednesday, April 7, 2010 as of 11:14 AM ET

Nationwide Mutual

Nationwide Mutual Insurance Company & Affiliated Companies is a group of large U.S. insurance and financial services companies based in Columbus, Ohio.

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How to Protect Your Business From Lawsuits

Whether you run a two man shop or a fifty strong company, having general business liability insurance may be a necessity.

Small business owners may not think they need this type of insurance, but end up getting sued and you may think again."If you don't have this it could ruin the business," says Loretta Worters, a spokeswoman for the Insurance Information Institute. "If someone is causing a lawsuit you have to hire a lawyer, you have to take time out from your business. It's very costly."General liability insurance protects small business owners from things that happen during the course of business -- whether a customer gets hurt using a product or there is some kind of disaster. It covers the business and the business owner from any claims that involve bodily injury or property damage. Typically this type of insurance offers protection from lawsuits, covering investigations to defend the business and settlement costs.Some of the things general liability insurance typically doesn't co...

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