Commercial general liability policies can cover the cost of any accidental damage as a result of the company's operations or the legal costs of defending a lawsuit. General commercial liability does not provide protection against intentional damage or any type of accident involving cars, aircraft, or boats. Any injury that arises from an aircraft, car, or boat will not be covered by a commercial general liability policy. If you have vehicles for your business, you'll need a commercial auto policy in addition to a CGL policy; the same can be said for an aircraft or boat.
A commercial general liability insurance policy, also known as a CGL insurance policy, is one of the most important insurance policies for a company. A CGL policy protects the insured from any liability derived from bodily injury or property damage suffered by third parties. The exclusion of contractual liability under a CGL policy would not apply if the insured had been held liable anyway, even in the absence of the contract. That is, regardless of whether the insured had the contract or not, if the insured had been held responsible for the damage, the CGL insurance policy will cover the liability.
The exclusion may include any work performed in connection with the pre-construction, construction, post-construction, reconstruction, exterior remodeling, or repairs of those buildings, while other policy approvals may specify limited coverage for a maximum annual number of new construction for home builders or a maximum number of condominium units, for example, in a given project. In addition, there are exclusions to liability for electronic data, but coverage for this incident is included in a cyber liability insurance policy. When that customer sues the insured, the policy will not cover that demand, even if the damage was caused by bodily injury, which is normally covered by a CGL policy. There is no coverage for bodily injury or property damage for an insured person who is held responsible for damages because the insured assumed the responsibility of another in a contract or agreement.
These exclusions eliminate coverage for all business operations that are not outlined in the policy-specific classification codes. HOWEVER, the upcoming exclusions will limit this broad definition and provide coverage for fewer injuries. The exclusions and guarantees usually included in CGL policies may exclude or limit coverage in certain geographical areas, for specific types of projects, products or services, or for acts committed by certain individuals, often to the dismay of unsuspecting policyholders, who may rely on their insurance broker to obtain the appropriate coverage that suits their specific operations. The CGL policy does not cover liability that arises from any breach of a duty due in a professional capacity.
The loss of use exclusion provided for in a CGL insurance policy does not apply to the loss of use of an asset that has been caused by accidental physical loss or damage to any product of the insured after the product has been used by a person or organization other than the insured. That said, it is important to be aware of the existence of any such exclusions and to ensure that there are coverage limitations with respect to transactions related to the insured's business activity. It's important to be familiar with the exclusions that apply to your company so that you can find an additional policy that covers any gaps in your CGL coverage. Coverage C covers medical payments for people injured on the insured's premises or because of the insured's business operations, regardless of fault.
The statutory workers' compensation benefits and unemployment insurance taxes that any insured person must pay are generally covered by workers' compensation policies and unemployment insurance, not by the CGL...
