When you have a commercial general liability insurance policy, you get the option to choose between two types of policies—claims made and occurrence. Let’s understand the difference between Claims Made and Occurrence – Coverage Starts In case of an occurrence policy, the coverage starts the time an injury takes place during the policy term. While […]
Liability Insurance
What is the difference between Liability cover and Medical Expense cover in a Commercial General Liability policy?
A typical commercial general liability insurance covers claims of bodily injury or property damage. Your company may become liable to pay for such claims. A CGL insurance policy comes with comprehensive coverage. Under commercial general liability insurance, there are two coverages available— liability cover and medical expense cover. The liability cover provides coverage for third-party […]
What are the differences between commercial general liability, general aggregate, and umbrella liability?
Various organizations face a wide range of liability loss exposures covered by a commercial general liability insurance policy. Most importantly, a commercial general liability policy is essential for an organization’s liability insurance policies. In fact, Commercial general liability, general aggregate & umbrella liability insurance should ideally be part of an organization’s annual financial planning. General […]
What is Food Contamination Insurance Coverage?
In today’s fast-paced world, products are now reaching customers in less time than ever before. In order to comply with the increasing demands, most businesses make use of mass production, different vendors, and suppliers which have their bases throughout the nation. Understand the definition of Food Contamination Insurance coverage. While the vast network has made […]
Does Product Liability Insurance Covers Spoiled and contaminated Food?
Yes, a product liability insurance policy covers spoiled and contaminated food as well. A product liability insurance policy covers the various costs which are associated with the damages, illness, or injuries, caused by your products. If you run a restaurant, grocery store, or wholesale food business, perishable food and beverage are like your ‘food and […]
Small business owners covering legal fees in the case of a lawsuit
Businesses these days are vulnerable to many lawsuits regardless of the location or industry. Small business owners are frequently involved in defending against claims and lawsuits arising from their business operations. While doing business, small businesses interact with clients, vendors, employees, and contractors, and any one of them can claim that a particular incident caused […]
What are the most important features of an umbrella insurance policy?
An umbrella insurance policy is a type of extra liability insurance policy used by many businesses. This insurance is crafted to protect the insured against significant claims and lawsuits. And ultimately helps to protect the insured’s assets and the business’s future. So let’s discuss in this article what are the important features of an umbrella […]
What does products-completed operations aggregate mean?
Any firm involved in product manufacturing and sale can be the subject of a product liability claim. When a firm receives a product liability claim, it means that someone has filed a claim against the firm alleging that a product it made and sold is defective. The claim can say that such a defective product […]
What is Occurrence-Based Malpractice Insurance?
An occurrence-based malpractice Insurance, which comes under a commercial general liability policy, protects the policyholder from a covered incident that ‘occurs’ during the tenure of the policy, irrespective of the fact when the claim is filed. It means an occurrence-based policy will cover those claims as well which arise even when the policy had canceled […]
What are the duties of Insured under product Liability Insurance?
Product liability insurance plays an important role in safeguarding the business from various claims which may arise in respect of its products and services. So, what are the duties of the Insured under Product Liability Insurance? Though product liability insurance offers coverage; the policyholder has to discharge some duties under a product liability policy. Duties […]