Comprehensive General Liability Insurance (cgl)
Definition of "Comprehensive general liability insurance (cgl)"
Coverage against all liability exposures of a business unless specifically excluded. Coverage includes products, completed operations, premises and operations, elevators, and independent contractors. This form has been replaced by the commercial general liability form (CGL).
Products coverage insures when a liability suit is brought against the manufacturer and/or distributor of a product because of someone incurring bodily injury or property damage through use of the product. (The manufacturer of the product must use all reasonable means to make certain that the product is free from any inherent defect.) Completed operations coverage for bodily injury or property damage incurred because of a defect in a completed project of the insured. Premises and operations coverage for bodily injury incurred on the premises of the insured, and/or as the result of the insured's business operations. Elevator coverage for bodily injury incurred in an elevator or escalator on the insured's premises. Independent contractors coverage for bodily injury incurred as the result of negligent acts and omissions of an independent contractor employed by the insured.
Popular Insurance Terms
Actual price paid for property when it was acquired. The original cost might apply to a piece of jewelry, to a piece of equipment, or to a building. For insurance purposes, original cost is ...
Insurance coverage purchased on the same item from two or more insurance companies. ...
Clause in some disability income insurance policies under which there is a maximum an insured can receive from all sources of disability income benefits. For example, the clause may ...
Provision in many property insurance policies that excludes coverage for floods and backup from sewers or drains and underground water. Because floods and hurricanes are generally confined ...
Person who has the responsibility for examining the risk to determine whether or not to insure it. ...
Risk management technique for identifying risks and taking steps to minimize losses. ...
Insurance company that has no outstanding shares of stock, such as a mutual insurance company. ...
Automobile purchased or leased by the insured or the insured's spouse that is in addition to the insured or the insured spouse's present car as covered under the personal automobile policy ...
The term pro rata comes from Latin and translates to in proportion, proportionally, the proportion of, proportionately determined, or according to a specific rate. It is often used in legal ...
Have a question or comment?
We're here to help.