Commercial general liability provides worldwide cover for both territory and jurisdiction. Business operations present across the world could be covered, with the ability to defend litigation abroad
Commercial liability insurance indemnifies cost incurred to defend a claim including lawyer and consultant's fees. Policy can be issued on the basis of either Right to Defend or Duty to Defend
Comprehensive general liability insurance can be tailored to suit unique requirements of the business model or a specific contractual need e.g., waiver of subrogation and additional insured clauses
A single combined general liability policy can cover multiple factories, and office premises spread across the country or globally. Certificate of Insurance can be issued for each location separately
Commercial General Liability Insurance Policy (CGL) protects your organization and your business against any liability arising due to bodily injury, property damage or any personal injury caused to a third-party. This essentially means that if your company, product, work, or anything which is associated with your business causes injury to a client (any person) or their property, you could be legally held responsible for it. In such a scenario you may also be required to pay a hefty compensation and this is the time where CGL can come to your rescue.
Commercial general liability policy covers defense cost and the compensation awarded by court for above legal liabilities. Defense cost will include the cost of lawyer fees incurred to defend the company against legal suits.
There are two types of CGL policies:
One example of CGL plan can be as follows.
M.R Textiles Ltd. has got a large international order worth INR 50 Crores. The foreign company insists on sending Mr. Jack, a senior employee, to the manufacturing unit of M.R. Textiles Ltd. for a thorough scrutiny of the stocks. Mr. Jack, while moving around the manufacturing units, trips and falls hurting his back.
Now the client sues M.R. Textiles Ltd. arguing that they should have taken care of the work premises. Luckily, M.R. Textiles had a CGL policy bought which covered the compensation as well as the legal costs involved.
Below are the benefits of commercial liability insurance.
Claims for Physical Damage Liability
Damage to Property in Custody
A small disruption in your business can mean huge financial loss. Below are the reasons why you need to buy a commercial general liability (CGL) insurance:
A proposal form is an essential document for obtaining a general liability policy or plan. Below are some important points to be noted here:
Below are the list of coverages under a cgl plan:
Below is a list of exclusions under CGL plan:
Note: This is just an indicative list. Please refer to your policy document for details of the exclusions.
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