Today, the world has become more competitive for businesses, along with the increased litigation risks. It is imperative for businesses to have commercial general liability insurance to protect themselves against the financial consequences arising from various risks. The type of liability risks may vary depending on the nature of the business, the industry it belongs […]
Articles Tagged: Commercial General Liability Insurance
What is a vicarious liability in CGL policy?
Business owners, even when not directly involved, often bear vicarious responsibility for liabilities stemming from the negligence and mistakes of employees, agents, and other parties associated with the business. Vicarious liability can be a huge financial burden for businesses if liability insurance is not in place. Hence, Vicarious Liability in CGL Policy is a cover […]
What parts of automotive liability are covered and not covered under CGL?
Overview A Commercial General Liability (CGL) policy does not typically cover automotive liability related to ownership, maintenance, or use of vehicles. Instead, such exposures are handled through a separate Commercial Auto Insurance or Business Auto Policy (BAP). ✅ What’s Covered: Premises liability from vehicle loading/unloading (in some cases) Vicarious liability when a contractor or third […]
What is an Extended Reporting Period Endorsement?
A commercial general liability insurance policy plays a crucial role by covering a wide range of liabilities to which a company may be exposed. The policy offers protection against claims which are related to bodily injury or property damage for which your company may be liable to pay. In short, the policy covers a wide […]
What Does General Aggregate Mean in Insurance Policy?
General Aggregate limit in Commercial General Liability Insurance is a crucial term in liability insurance. It is necessary for all policyholders to understand its working. In commercial general liability insurance, the general aggregate is the maximum amount of money the insurer will pay out during a policy tenure. The general aggregate limit places a ceiling […]
What is the Difference Between Claims Made and Occurrence Policy?
When you have a commercial general liability insurance policy, you get the option to choose between two types of policies—claims made and occurrence. Let’s understand the difference between Claims Made and Occurrence – Coverage Starts In case of an occurrence policy, the coverage starts the time an injury takes place during the policy term. While […]
What are the differences between commercial general liability, general aggregate, and umbrella liability?
Overview When managing business risks, understanding the differences between Commercial General Liability (CGL), General Aggregate Limits, and Umbrella Liability Insurance is crucial. ✅ Key Differences: Feature CGL (Commercial General Liability) General Aggregate Limit Umbrella Liability Purpose Covers basic third-party liabilities Maximum amount payable during policy Extends limits beyond CGL & other policies Coverage Type Premises, […]
What is Occurrence-Based Malpractice Insurance?
An occurrence-based malpractice Insurance, which comes under a commercial general liability policy, protects the policyholder from a covered incident that ‘occurs’ during the tenure of the policy, irrespective of the fact when the claim is filed. It means an occurrence-based policy will cover those claims as well which arise even when the policy had canceled […]
What is Liability Insurance?
Liability insurance is a part of commercial insurance which is there to protect the purchaser of the policy (i.e. policyholder). Various risks of liabilities can arise from lawsuits and similar claims. There are various types of liability insurance policies, like cyber risk, directors’ & officers’ liability insurance, product liability, etc. Commercial general liability insurance is […]
What is Generally Excluded Under Coverage A of the Commercial General Liability Insurance Policy?
Commercial general liability insurance protects you against various claims related to property damage or bodily injury which may arise against your organization and for which you may be liable to pay. The commercial general liability insurance policy covers an extensive range of liability loss exposure faced by various firms. Commercial general liability insurance offers extensive […]