Legal Question in Construction Law in Georgia
Builder going out of business
We have an LLC partnership building company that has sold all inventory and we want to close the doors. We used only insured subs while building. My question is how long am I required to keep the General Liability Insurance? My agent says indefinitely, HBA says cancel it and the insurance commissioner's office does not know.
1 Answer from Attorneys
Re: Builder going out of business
Generally, you are not required to carry general liability insurance. That decision is up to the insure and how much risk the are willing to bear. However, watch out for contracts that might require certain minimum coverages.
If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.
The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.
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