Anyone who runs a business certainly does so with the intention of earning a profit. To earn profits, one has to know the proverbial ins and outs of the business quite well. This not only refers to the actual operation of the business, but also to its marketing, forecasting, and other components. Among these components are municipal law and insurance law.
As this point, most entrepreneurs might be saying they are not lawyers and do not know anything about municipal and insurance law. That is fine. As long as the business owner has access to a good insurance or municipal law firm, then the true experts can help when serious matters do arise. Still, it would never hurt to become more than vaguely familiar with these areas of the law. Again, the goal of a business is to earn a profit. Legal issues that arise capable of undermining profit potential do have to be addressed and done so properly. If not, then a business could end up suffering losses it otherwise would and should not incur.
Legal matters do have a tendency to catch business owners by surprise. Being well versed in areas related to the law just might speed up the ability to deal efficiently with a legal problem.