Basic insurance coverage like homeowners, renters and auto usually carry provisions for liability – the possibility that your actions or lack of action will cause injury to another person or his property. Are your assets still exposed by inadequate liability amounts. Frivolous lawsuits and outlandish settlements got the public’s blood boiling again recently when a judge – yes, a judge – sued a small, family-owned dry cleaners for $65 million for losing a pair of his pants. Small businesses, this goes to show, are just as vulnerable to unfounded claims as their deep-pocket peers. A study by NERA Economic Consulting determined that small businesses pay for 69 percent of civil lawsuit liability costs, although they generate only 19 percent of business revenues.