I have a business that publishes information and reviews about local businesses. We are registered as an LLC with two partners and no employees.
One of our concerns is frivolous lawsuits from business owners. I don't have any concerns about the information published on our website and it is well protected under Section 230 Protections, but we have seen the occasional idle threat of a lawsuit when a business owner doesn't agree with a review.
What kind of insurance will protect us if we have to fight a frivolous lawsuit? Also, I'd be interested in any specific recommendations for insurance companies that you might have.
I'm a lawyer. Directors' and officers' insurance may be able to protect you personally. Never heard of frivolous lawsuit insurance. As you say that you're OK with the information published on your site, but just be sure that the reviews are all factually correct and do not constitute libel or slander and then no reputable lawyer will want to sue you, since there'd be no case.
In addition to general liability and Errors and omission, you can purchase "Contract Litigation Insurance". Although this will not completely protect you from a lawsuit, it will protect you from the risk of having to pay your opponent's attorneys' fees in contract disputes.
You want general liability insurance.
Section 230 is actually really helpful to you, because it allows you to get rid of the lawsuit while it is still in the very early stages, before costs really start to rack up. Be sure to get advice from a lawyer who's familiar with Section 230, because there are a few potential gotchas there.