Article Link: http://exchangepress.com/article/risky-business-questions-to-ask-your-liability-insurance-agent-and-attorney/5013270/
"The child care industry is especially vulnerable" or so declared the Wall Street Journal in an article about liability insurance for child care. That special vulnerability is caused by the length of the risk. The statute of limitations does not run out as quickly for children as it does for most adults. Children have the right to sue up to the time they reach the age of majority (and, perhaps, some years thereafter).If the youngest child in your care is age three and the age of majority in your state is 18, your liability risk will extend for 15 years (or more). The liability for the service long outlives the service. That makes the child care industry reasonably unique and "especially vulnerable."
You don't want your retirement going to pay off a settlement for the tike who crashed a trike a decade and a half ago. So you probably have purchased the correct type of liability policy. That would be the type that covers you for those things that occurred while you were paying the premiums - even if you have long since closed your doors, canceled the policy, and stopped paying the premiums, OR even if you are still in business ...