Commercial General Liability (CGL)
Commercial General Liability insurance protects you from the financial loss caused by the third party property damage by your business operations or bodily injury/ physical damage that occurs at your business premises. In simple words, if a client or any third person apart from your own employee met with an accident in your organisation or any of your business action causes property damage to the third party then you are legally liable to pay the compensation; else the person can file a lawsuit against you and your organisation. In order to protect you from the legal and financial trouble; CGL comes to the rescue.
Advantages of CGL-
- Protection against financial loss from the third party bodily injury or property damage
- Covers defence costs (i.e. investigation and attorney expenses) in case a lawsuit is filed against you
- Protection against infringement of patent and copyright
- Reputation of businesses remains intact.
- This policy is preferred by all the businesses because of its wide range of coverage and combination of various products.
Extensions-
- Medical Expenses cover
- Pollution cover
- Product Liability extension for manufacturers
- Food and Beverage cover
- Act of God Peril cover etc.
Main Exclusions-
- Own property or product damage
- Fraudulent activity or intended injury
- Injury to your own workmen or professionals (They can be covered under separate policies)
- Damage caused by War, Terrorism, Aircraft etc.
