Business owners understand that they have an obligation to make sure their neighbors, customers, and any other business invitees are safe from harm – at least from any predictable harm that can reasonably be prevented. Due to this responsibility, businesses of all sizes to protect themselves and their financial interests with Commercial General Liability insurance, or CGL.
Commercial general liability coverage assists businesses in defending themselves against third party claims that their premises, operations, products, or advertising have caused bodily injury, personal injury, or property damage.
CGL coverage is often incorporated into the standard Business Owner’s Policy (BOP). However, not all businesses are eligible for a BOP. CGL coverage is also available as part of a Commercial Package policy (CPP), which can also include coverage for Buildings, Business Personal Property, Business Income, as well as other necessary coverage.
The primary coverages provided by the Commercial General Liability policy include:
Bodily injury: the cost of medical care, the loss of services, and the restitution for any death that results from injury
- Property damage: coverage for the physical damage to property of others or the loss of use of that property
- Products-completed operations: liability protection (damages and legal expenses up to your policy's limit) if an injury ever resulted from something your company made or service your company provided
- Products liability: occasionally a stand-alone liability insurance that protects your company after your product causes an accident or injury
- Contractual liability: covers pre-loss liability you may assume by entering into a variety of contracts such as easement, building leases, elevator maintenance agreements, or agreements to indemnify a municipality
At Danskin, we will work with you to make sure your business has the liability protection it needs so you can focus on what you do best. When you work with our staff, we will conduct an on-site review of your business to pinpoint areas of potential risk. We’ll comb through your prior claims history and your existing General Liability insurance to identify any loss patterns or trends, and to ensure your coverage is appropriate.
We’ll also review with you your contracts and lease agreements to evaluate what potential liabilities and exposures you face when entering into contractual agreements. We’ll conduct a Risk Management review of your existing contracts, RFPs, contract updates, and renegotiations. This includes: employee agreements, management agreements, leases, sales and acquisitions, vendor contractors, and service agreements.
In conducting this top-to-bottom review, it’s our experience that existing policies often have gaps in coverage that present unnecessary exposures. Sometimes the coverage amount isn’t sufficient for particular business risks, which could lead to unnecessary out-of-pocket expenses for your business. Our goal is to tailor a General Liability policy that is truly comprehensive and protects you in the event of a claim against your business that may lead to a lawsuit.
Don’t Risk It. Give us a call today!