COMPREHENSIVE GENERAL LIABILITY INSURANCE
This is an insurance required before a business license is issued in order to operate a business enterprise. It covers various establishments against financial and legal liabilities arising from damage to another party’s property or injury to another person. It also includes loss of use as a result of any of the hazards insured against.
Types of CGL Coverage:
- Products Coverage - insures when a liability suit is brought against the manufacturer and/or distributor of a product because of someone incurring a bodily injury or property damage through use of the product.
- Completed Operations - coverage for bodily injury or property damage incurred because of a defect in a completed project of the insured.
- Premises and Operations - for bodily injury incurred on the premises of the insured, and/or as the result of the insured’s business operations.
- Elevators / Escalators - coverage for bodily injury incurred in an elevator or escalator on the insured’s premises.
- Independent Contractors - coverage for bodily injury incurred as the result of negligent acts and omissions of an independent contractor employed by the insured.