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A Commercial General Liability

A Commercial General Liability (CGL) insurance policy protects businesses from legal liability involving paying compensation for damages or injuries caused to third parties from routine business operations. It offers financial protection against public liability and product liability claims. CGL covers claims arising from bodily injuries, property damage, or other issues for which the business is responsible. It also protects owners, directors, and others involved in business operations.

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100% found this document useful (1 vote)
147 views2 pages

A Commercial General Liability

A Commercial General Liability (CGL) insurance policy protects businesses from legal liability involving paying compensation for damages or injuries caused to third parties from routine business operations. It offers financial protection against public liability and product liability claims. CGL covers claims arising from bodily injuries, property damage, or other issues for which the business is responsible. It also protects owners, directors, and others involved in business operations.

Uploaded by

Tarannum khatri
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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A Commercial General Liability (CGL) insurance policy is designed to protect businesses against any

legal liability that involves paying compensation for damage or injuries incurred by a third party from
your routine business operations. This unique policy offers financial protection to the companies
against Public Liability and Product Liability claims. It is required for all the companies that involve
manufacturing and development of software and physical products for its clients and customers. CGL
also protects the policyholder against any monetary loss resulting from legal matters in case of
death, bodily injuries, property damage, and personal injuries caused due to your business
operations within your premises. For instance, it includes Fell, Trip or Slip claim filed by a client who
sustained injuries in your business premises and by falling/ tripping/slipping. It is important to keep
your premises in good shape, manufacture good quality products that are safe to use and consume.
The major concerns are the security and safety of premises and product reliability. The laws are
nowadays stringent to maintain third-party interest and amendments are also being made in this
regard that companies need to adhere to. General liability insurance policy offers compensation for
claims arising due to bodily injuries, and property damages or for which your business is
accountable. This coverage is provided to the Owners of a company, or managing directors,
operations head etc. who are involved in the business operations. It also covers sellers,
manufacturers, and distributors. CGL policy is extendible to both industrial activities like
construction, manufacturing, and non-industrial activities like offices, multiplexes, and hotels.

Understanding Comprehensive Commercial General Liability Insurance You can get compensation
for an accident that took place in the insured premises or any other premises where you run your
business operations It will also cover the operations, product and premises hazards Medical
expenses of the injured third-party as part of the public liability insurance cover You can opt for
additional covers by paying an additional amount of premium Why Should You Buy Comprehensive
General Liability Insurance? Business involves interaction with third-party sites A Commercial
General Liability (CGL) insurance policy is designed to protect businesses against any legal liability
that involves paying compensation for damage or injuries incurred by a third party from your routine
business operations. This unique policy offers financial protection to the companies against Public
Liability and Product Liability claims. It is required for all the companies that involve manufacturing
and development of software and physical products for its clients and customers. CGL also protects
the policyholder against any monetary loss resulting from legal matters in case of death, bodily
injuries, property damage, and personal injuries caused due to your business operations within your
premises. For instance, it includes Fell, Trip or Slip claim filed by a client who sustained injuries in
your business premises and by falling/ tripping/slipping. It is important to keep your premises in
good shape, manufacture good quality products that are safe to use and consume. The major
concerns are the security and safety of premises and product reliability. The laws are nowadays
stringent to maintain third-party interest and amendments are also being made in this regard that
companies need to adhere to. General liability insurance policy offers compensation for claims
arising due to bodily injuries, and property damages or for which your business is accountable. This
coverage is provided to the Owners of a company, or managing directors, operations head etc. who
are involved in the business operations. It also covers sellers, manufacturers, and distributors. CGL
policy is extendible to both industrial activities like construction, manufacturing, and non-industrial
activities like offices, multiplexes, and hotels. Comprehensive General Liability Insurance (CGL) is a
combination of Product Liability and Public Liability. It provides full protection against third party
liabilities. Public liability covers third parties legal procedures for loss or damage that incurred within
the insured premises. Product liability offers protection against damages caused by the products
that your company manufactures. Basically, it is designed to recompense all the liabilities on behalf
of the insured member. The insurance company shall pay off for third-party liabilities/ accidental
death/ bodily injuries resulting due to:

Business involves interaction with third-party sites

It is imperative to have to buy commercial general liability insurance for anyone whose: 9/18/2020
What is Commercial General Liability Insurance Policy in India file:///C:/Users/admin/Desktop/What
is Commercial General Liability Insurance Policy in India.html 2/6 Business involves person to person
interaction with the vendors, clients, and customers Businesses that are based on contracts between
two parties Businesses that represent  their client’s business in any form Some of the Hazards That
May Lead to Financial Liability on a Company are as follows: 1.Third-party Property Damage/Bodily
Injuries 2. Advertising Infringement 3. Product Quality Issues 4. Invasion of Privacy Additional
Coverage is also Provided on Payment of Additional Premium: Extension for the Act of God Perils
Extension for Accidental and Sudden Pollution Lift, Escalator and Elevator Liability Extension
Transportation Liability cover Food and Beverages Liability Extension If any injury is caused to a third
person due to falling, slipping or getting electrocuted then you might be held responsible for the
same. A Commercial General Liability (CGL) insurance policy will bear the cost of medical expenses
on our behalf. And if the injuries lead to the death of a third-person then compensation will be
provided as per the court of law. It also compensates for third-party property expenses such as
replacement, repair and renovation costs if any damage is caused to a third-party laptop, phone, or
any other belongings ( apart from your employees).  It would also involve paying for renovation of
other building that is damaged due to an accidental fire in your

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