General liability insurance helps protect you from claims that your business caused bodily injury or property damage. It can also protect you if someone sues you for advertising injury. Commercial property insurance covers your business’ physical location and equipment, whether you own or lease it.

What does CGL mean in insurance?

Commercial General Liability
Business Insurance A Commercial General Liability (CGL) policy protects your business from financial loss should you be liable for property damage or personal and advertising injury caused by your services, business operations or your employees.

What does general liability cover irmi?

Commercial General Liability (CGL) Policy — a standard insurance policy issued to business organizations to protect them against liability claims for bodily injury (BI) and property damage (PD) arising out of premises, operations, products, and completed operations; and advertising and personal injury (PI) liability.

What’s the difference between comprehensive and general liability insurance?

Over time, comprehensive general liability insurance took on the more correct term “commercial general liability insurance” to avoid the confusion over the word “comprehensive”. This coverage does not protect the company’s assets such as buildings, equipment and other property.

What do you mean by commercial general liability?

Commercial general liability is considered comprehensive business insurance, though it does not cover all risks a business may face.

What does CGL stand for in business insurance?

Commercial general liability is considered comprehensive business insurance, though it does not cover all risks a business may face. Commercial general liability (CGL) is a form of comprehensive insurance that offers coverage in case of damage or injury caused by a business’s operations or products, or on its premises.

What are exclusions in commercial general liability insurance?

Some commercial general liability policies may have exclusions to what actions are covered. For example, a policy may not cover the costs associated with a product recall. When purchasing commercial general liability insurance, it is important for the business to differentiate between a claims-made policy and an occurrence policy.