Commercial General Liability
Your business faces liabilities every day. The only way to protect your assets is to carry adequate business liability insurance. A Commercial General Liability (CGL) insurance policy is the first line of defense against many common claims. General Liability insurance covers claims of bodily injury or other physical injury or property damage. It is frequently offered in a package with Property insurance to protect your business against incidents that may occur on your premises or at other covered locations where you normally conduct business. Commercial General Liability enables your business to continue operations while it faces real or fraudulent claims of certain types of negligence or wrongdoing.
Commercial General Liability - The Most Basic Form of Business Insurance
If you have or require only one form of business insurance, it is most likely the Commercial General Liability. CGL policies cover claims in four basic categories of business liability:
- Bodily Injury
- Property Damage
- Personal Injury (including slander or libel)
- Advertising Injury
In addition to covering the claims listed above, Commercial General Liability policies also cover the cost to defend or settle claims - even if the claims are fraudulent.
Business Liability insurance protects your business against financial loss resulting from claims of injury or damage caused to others by you or your employees. (Some coverages may not be available on all policies or in all provinces.)
- Automatic Additional Insured. Coverage is automatically provided when required in a written contract, agreement or permit.
- Personal and Advertising Injury. Covers you for certain offenses you or your employees commit in the course of your business, such as libel, slander, disparagement, or copyright infringement in your advertisements.
- Employment Practices Liability. Covers claims, including legal defense costs, for certain employment-related lawsuits brought against you by your employees or job applicants ($5,000 limit where available).
- Defense Costs. Pays legal expenses for certain liability claims brought against your business regardless of who's at fault.
- Medical Expenses. Pays the applicable medical costs if someone is injured and needs medical treatment due to an accident on your premises.
- Premises and Operations Liability. Provides coverage for bodily injury and property damage sustained by others at your premises or as a result of your business' operations.
- Tenant's Liability. Protects your business against claims of damage due to fire or other covered losses caused by you to premises that you rent.