BRIAN O'Neill - Insurance Troubleshooting for Business Owners: GENERAL LIABILITY

What is Business Liability/Commercial General Liability Insurance?
Commercial General Liability Insurance Protects Your Business from Common Liabilities

Commercial General Liability (CGL) insurance provides coverage for 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.

CGL policies cover claims in three basic categories of business liability:

Bodily Injury- Physical Injury to a person caused by your negligence
Property Damage - Damage to someone?s property caused by your negligence (ok so some of it makes sense)
Personal and Advertising Injury - covers you for certain offenses you or your employees commit in the course of your business such as libel, slander, or copyright infringement

Commercial General Liability policies also cover the cost to defend you even if the claims are fraudulent or without merit.

Some common terms related to Commercial General Liability/Business Liability

Blanket Additional Insured. Coverage under the CGL policy is automatically extended to another business (usually someone who you perform work for) when you agree to do so in a written contract or agreement.

Premises and Operations Liability. Provides coverage for bodily injury and property damage sustained by others at your premises as a result of your business operations

Products/Completed Operations. Provides coverage for damage caused by your Products or Completed Work.

Fire Damage Legal Liability. Protects your business against claims of damage due to fire or other covered losses caused by you to premises that you rent.

Why Do I Need Business Liability/Commercial General Liability Insurance?
Every business benefits from adequate Commercial General Liabiliy coverage. This insurance protects you if a customer is injured at your place of business. It would also cover damage or injuries caused by your employees at a customer's location.

Commercial General Liability protects businesses against these types of claims. Even if your company is negligent or liable for damage, injury or loss to another's property, reputation or health, your business can keep its assets if it is adequately insured.

Commercial General Liability Only Protects Against Some Business Liabilities
General Liability does not protect your business against every liability. If you or your employees make professional judgements and recommendations in the course of your business, you will need a Professional Liability policy in addition to a CGL policy.