Get a quote


Join Our Distribution List Today!

Need help managing your business risks during COVID-19? – CLICK HERE FOR INFO YOU CAN USE
ALIGNED Insurance

Call Toll Free

Liquidator Business Insurance

Liquidator Business Insurance
ALIGNED - CLICK HERE to get a FREE insurance quote now - Header - June 2021
Want insurance? Click HERE to get a FREE QUOTE!

Unfortunately, and sometimes despite best efforts, it isn’t possible to turn around a company’s path and the only way for debtors and investors to recover even a portion of their investment is through the liquidation process. As a Liquidator Business, you have work with insolvent businesses to sell off inventory and other assets in order to satisfy creditors. This is a difficult role to play, and not without its risks to you as a business owner. 

What kind of insurance do Liquidator Businesses need?

Liquidator Business Insurance - ALIGNED Insurance brokers
Looking for liquidator business insurance? Contact us HERE to get an online quote started now!

Yes, yes they do! Indeed, as a Liquidator Business owner there are risks that you must guard against. As you work in this realm, you may be working with companies who are voluntarily complying with the process and possibly some that are not. You may be brought in simply to handle one aspect of the process, like selling off inventory to create cash flow. No matter what your specific role in each insolvency procedure, you have to make sure you are protected against any claims that could be made against you. 

You have the expertise to come in, take over and start selling and apportioning business assets. But what sort of protection do you need to do this work? 

Types of insurance for a Liquidator Business

Liquidator Business General Liability insurance will cover your business against claims made against it as well as costs associated with claims made for property damage or bodily injury as a result of your business’ activities or advertising. This coverage is necessary for any small business and guards as a minimum and provides for any legal fees and often settlement payments. 

You are settling outstanding debts and contracts for the business being liquidated, and often wrapping up business activities. You are often tasked with taking over the business being liquidated, so there is a lot of information to process and consider. This can be a complicated process and you should protect yourself with Consultant’s Errors and Omissions coverage in the event that you somehow overlook an important detail or otherwise don’t perform up to your professional standard. 

The information you work with is sensitive and you could be liable for any data breaches or losses. That makes Cyber Liability Insurance an essential coverage for a Liquidator Business to protect online assets and sensitive information. 

Umbrella Insurance coverage can assist as a means of guarding against your policy limits in the event of a large claim or judgment against your company. If the limits of your other policies are reached, umbrella coverage is there to make up the difference. Specifically:

…umbrella liability insurance is designed to protect your assets by kicking in when your primary commercial general liability coverage is exhausted. Adding umbrella liability insurance or excess liability insurance layers is like building a tower with blocks. Each block represents a layer of protection that is triggered if the limit in the underlying policy is used up.

Keep reading: How Umbrella Liability Insurance fills the gap

As the owner of a Liquidation Business, you have the unique role of taking over a business that is insolvent and making the most of a difficult situation. Contact one of our ALIGNED brokers to customize an insurance package that matches your business’ needs and allows you to operate with peace of mind. 

We’re here to answer your business insurance questions.
You can reach any of us using our dedicated toll-free direct numbers.

Not sure who you need to talk to?
Just email 
or call us toll-free at 1-866-287-0448

Related Posts:

It’s time to get insurance value and choice aligned. Want Canadian business insurance that aligns with your bottom line? We can help. 365. Call us toll-free at 1-866-287-0448 or click to Get a Quote!

We’re ALIGNED across Canada. The ALIGNED Insurance National Operations Centre in Cambridge, Ontario supports our Toronto, Calgary and Vancouver offices. Our industry peers consistently recognize us as one of Canada’s best insurance teams. 100% Canadian-owned, we are super proud to be one of the fastest-growing insurance brokerages in the country.

We deliver e-news you can use. Get practical business insurance insights in your inbox every month. 19,000+ people subscribe to our free ALIGNMENT Matters e-news. Just click the JOIN OUR DISTRIBUTION LIST button – at the bottom of our homepage – to get connected.

365 | Get ALIGNED. Every day, Canadian business leaders read our insurance insights. Find us on LinkedIn, TwitterFacebookInstagram and YouTube.

Leave a Reply

Your email address will not be published. Required fields are marked *