Running a successful business always comes with inherent risks. A client could file a suit, a natural disaster can ruin things, or someone can get injured on the site. For this reason, it is essential that a business has an insurance policy in place to protect itself as well as its assets. So, what are […]
What is the Difference Between Claims Made and Occurrence Policy?
When you have a commercial general liability insurance policy, you get the option to choose between two types of policies: claims-made and occurrence. Key Takeaways Triggering Coverage Windows: The fundamental difference lies in timing, ensuring an occurrence policy covers the risk if the coverage occurs during the policy tenure, allowing claims to be filed during […]
What is the difference between Liability cover and Medical Expense cover in a Commercial General Liability policy?
A typical commercial general liability insurance policy 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 […]
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. Key Takeaways Form of Organization Matters: The scope of coverage and who qualifies as an insured depends directly on the legal […]