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It is a type of insurance policy that provides broad coverage for businesses against third-party liability claims. A CGL policy protects businesses from financial losses and legal expenses if they are held responsible for bodily injury, property damage, or personal injury caused to others due to their business operations, products, or services. It typically covers a wide range of liability risks, such as slip-and-fall accidents, product liability, advertising liability, and contractual liability. The CGL policy helps businesses mitigate the financial risks associated with potential lawsuits and claims, providing essential protection and peace of mind.
Coverage for third-party claims of bodily injury or property damage caused by your business operations, products, or services. This includes medical expenses, legal defense costs, settlements, and judgments.
Protection against claims arising from injuries or damages caused by your products or completed work. This coverage applies even after the product has been sold or the service has been completed.
Coverage for claims related to advertising injuries, such as copyright infringement, defamation, or invasion of privacy. This also includes coverage for certain non-physical injuries, such as mental anguish or false arrest.
Coverage for medical expenses incurred by third parties who sustain minor injuries on your business premises or as a result of your business operations, regardless of fault.
Coverage for property damage to rented or leased premises caused by your business operations.
Coverage for liability assumed under specific contracts or agreements. This ensures protection in situations where your business assumes responsibility beyond what is typically required by law.
Please note that the specific coverage and benefits can vary depending on the terms and conditions of the Commercial General Liability (CGL) policy.
Claims arising from professional services or advice, which are typically covered under a separate Professional Liability or Errors and Omissions (E&O) policy.
Work-related injuries to employees are typically covered under workers' compensation insurance rather than a CGL policy.
Damages or injuries intentionally caused by the insured party or their employees are typically excluded from coverage.
Some contractual liabilities, such as indemnification clauses or specific liability assumptions, may not be covered unless specifically included in the policy.
Environmental pollution or contamination-related liabilities are often excluded from a standard CGL policy and require specialized pollution liability coverage.
Claims related to employee discrimination, harassment, or wrongful termination are usually not covered under a CGL policy and may require separate employment practices liability insurance.
Costs associated with product recalls are typically excluded, and separate product recall insurance may be needed for such coverage.
Errors or omissions in professional services provided by the insured party are typically not covered and require separate professional liability coverage.
It is important to review the policy documentation to understand the specific coverage and exclusions.
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Incorporation date 10/10/2016
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