9 people found this helpful. The commercialization process allowed us all to see that our thousands of man hours had not been spent in vain, and our product would soon be available to the people we created it for. 4 people found this helpful.
But with liability law suits on the rise and attorneys seeking larger awards, the risk is very real. Most home insurance policies cover only liability claims up to $300,000 for personal liability and most automobile policies provide up to $250,000 per person and $500,000 per accident for bodily injury. Amounts for claims covered by property damage are lower, typically around $100,000.
Owners (chartered organizations or others) must carry their own liability coverage. Boats under 26 feet and donated for use in Scouting activities need to have at least $300,000 in coverage. Boats 26 feet and over should have $500,000 in coverage. Risk Management will provide certificates of insurance up to $2 million.The BSAâs coverage is excess of the liability coverage ($300,000 or $500,000) carried by the owner.he BSA general liability program provides excess coverage for automobile or watercraft liability. The ownerâs vehicle or watercraft liability insurance is primary. The excess insurance is available only while the vehicle or watercraft is in the actual use of a Scouting unit and being used for a Scouting purpose.