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Commercial General Liability Insurance (CGL) Or Comprehensive General Liability insurance

Commercial general liability, commonly referred to as Commercial General Liability, is a broad policy for businesses that covers a wide variety of exposures that are not specifically excluded. While Commercial General Liability forms are generally similar, it is important to read carefully the included coverage and exclusions. Common coverage includes:Premises and OperationsPremises and Operations coverage protects the policyholder from claims due to negligent acts associated with the business premises and normal business operations (often excluding automobile).

Products and Completed Operations

This coverage has two parts: products and completed operations. Products coverage protects the insured against claims arising from the manufacturing, selling, handling, or distribution of products. In order for there to be coverage, the product must have been sold and relinquished.

Operations coverage protects against claims arising from completed operations by the insured. For example, if a plumber installs the plumbing for a new restaurant and due to poor installation the restaurant floods, the completed operations coverage pays the damages on the insured’s behalf. As with products coverage, the operations must have been abandoned. That is, the work must have been completed and not in progress.

Independent Contractors

This coverage is also referred to as “Owners and Contractors Protective” insurance. It covers the insured for the negligent acts of a contractor or subcontractor the insured hires.

 

Commercial General Liability/Combined General Liability/Common General Liability (CGL) for Liability Insurance

The CGL policy is an ISO form, widely used to provide commercial enterprises with premises and operations liability coverage, products and completed operations insurance and personal injury coverage. Premises medical payments coverage is often included as well. Under a Public Liability the indemnity provided is for a claim due to legal liability arising out of accident occurring in the insured premises arising out of injury or damage. In case of a product liability policy the indemnity is for claims due to legal liability arising out of accidents arising out of defects in products specified. In contrast, the operative clause of CGL cover for legal liability to pay damages because of bodily injury or property damages. There are no limitations for cover in terms of insured premises or products specified as long as the occurrence and claims are in coverage territory specified, thereby providing a wider covers. CGL also provides cover for supplemental payments, medical expenses and fire damages. Cove rage is restricted to cover only third party liabilities.

Commercial guarantees

Fidelity guarantee insurances indemnifying the insured against financial loss resulting from acts of dishonesty by employees. Collective policies cover named employees with separate amounts for each. Floating policies cover unnamed employees up to one overall amount. Blanket policies guarantee the staff generally. Positions policies guarantee the position (e.g. chief accountant) and not the individual by name. The insurer considers the previous history of named employees and, in all cases, the type of work undertaken and the system of check.
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Insurance policies provides to reimburse employers defrauded by employers.