Managing Slander with a Measured Response
Cease and desist letters are usually the first step in establishing a paper trail for a lawsuit, but they do a lot more than that. They allow parties to resolve a situation quickly and without the costs involved in arbitration or mediation, and they also avoid the cost of paying out damages. What many small business owners do not realize is that with the right kind of risk management plan, efficient legal services like this can be partially or completely covered. Cease and desist slander letters fall under the kind of legal help insurance often covers up to a point because settling things without moving to a full lawsuit is cost-efficient, so it saves you and your insurer money in the long run.
Shopping for the Right Insurance
While it might seem odd to seek out insurance against slander specifically, it’s actually more commonly covered than you think. Most of the time, it’s one of several things folded into a broad coverage provision like malicious interference in your business, but it can also be excluded by some policies to streamline costs. That is why your best choice for business insurance will always be a company that has the experience to break down exactly what is and is not covered in plain language, so you can tell if you need to seek out additional gap coverage or alternative risk transfer solutions to round out your protection.