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 […]
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 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 is Liability Insurance?
Liability insurance is a part of commercial insurance which is there to protect the purchaser of the policy (i.e. policyholder). Various risks of liabilities can arise from lawsuits and similar claims. There are various types of liability insurance policies, like cyber risk, directors’ & officers’ liability insurance, product liability, etc. Commercial general liability insurance is […]
Who is qualified as an Insured under Commercial General Liability Insurance?
Commercial General Liability protects the insured against bodily injury and property damage. But it is essential to understand who is insured under this Commercial General Liability policy. Persons or Organizations can qualify as insureds. So, who can qualify as insured under a specific condition are below. Sole Proprietorships: In the case of an individual, insured […]