Insurance coverage cover all partners?

Changing from a SP to an LLC and joining forces officially with a friend. I am wondering if insurance policies from places like Hill and Usher and TCP cover the business and all people working for that business.

If there are 2 people working under the LLC, do we need two separate policies? or does the one cover everyone? Havent been able to find any type of answers online for this.. Still waiting for a response from H&U and TCP...

Thoughts?

It all depends on the policy, and you need to go back to them for that. It may also depend on their status in the company as well, ie, partner, employees, investor, etc. There is no standard regarding coverage, so only your insurance company can give you the answer you need after reviewing your policy. My guess is that they are not covered, since you purchased your policy before forming the LLC, so there would have been on reason to add that coverage.

Agent got back with me. TCP will cover all parties under the LLC so that is good. They are checking if they can actually write the policy in my state...Hopefully hear something soon.