Legal Question in Insurance Law in Louisiana

I'm one of three members of an LLC. The LLC is for a internet based fan club that includes a popular podcast, a website and forum, and several different social media accounts. We regularly do interviews on our podcast and hold prize contests. The average amount of donations we receive is somewhere between $2000 and $3000. Most of that money goes towards paying bills (server bills, podcast services, other bills and fees of that sort) and if there is any excess, it is saved for any fees that may arise in the future. Nobody makes any money from the site, although for tax purposes, the three members do have to file taxes as having made a small amount of income. One of our CPAs recently told us that we should consider an insurance policy in addition to just the coverage of an LLC. What sort of insurance policy would a group like ours require?

Asked on 3/06/12, 5:34 pm

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A liabilty policy and a business loss policy.

Answered on 5/22/12, 5:46 am

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