Table of Contents
What is comprehensive general liability insurance in Canada?
Comprehensive general liability insurance refers to a business insurance policy that provides coverage for customer injuries, customer property damage, and lawsuits related to both.
What is covered under a commercial general liability policy?
Commercial General Liability covers legal liability of the insured due to bodily injury or property damage. These are some types of coverage provided: Broad Public/General Liability cover for bodily injury or property damage incurred on your premises and/or as a result of your business operations.
What does CGL mean in movies?
Computer-generated imagery – Wikipedia.
How many limits are found in a CGL policy?
The CGL policy lists on the declarations six different limits. While the policy lists separately each of the six limits, it is important to recognize that the limits are all interrelated. That is, a reduction of one limit by the payment of damages will also reduce another limit.
What does CGL cover Canada?
what specifically does a CGL policy cover. A general liability insurance policy covers bodily injury and property damage caused to third parties as a result of you operating your business.
What is the difference between liability coverage vs comprehensive coverage?
Liability insurance protects you in a car accident regardless of who caused it, paying for your injuries and damages. Comprehensive and collision coverage pays for different types of repairs to your vehicle.
How much does general liability insurance cost Canada?
Most commercial general liability insurance policies cost about $500 annually for small to medium-sized businesses, but it can vary according to the amount of coverage you want.
Which of the following would not be considered an insured under a commercial general liability policy?
Which of the following is NOT considered an insured contract under the Commercial General Liability Policy? Fiduciary liability insurance.
What are the 4 most common types of commercial insurance?
- Commercial General Liability Insurance. …
- Property Insurance. …
- Business Interruption Insurance. …
- Cyber Liability Insurance.
What are the limits on a commercial policy?
LIMITS: The limit you select can usually range from $300,000 up to $1,000,000 each occurrence. To obtain a higher limit requires the purchase of an Umbrella or Excess Liability policy.
What is included in the general aggregate limit?
The general aggregate limit applies to the total amount insurance companies will pay for covered losses during the policy period. If you reach the limit before the end of your policy period and there's another claim, you'll have to cover the costs out of pocket.
Which limit is not included in the general aggregate limit?
Under the standard commercial general liability (CGL) policy, the general aggregate limit applies to all covered bodily injury (BI) and property damage (PD) (except for injury or damage arising out of the products-completed operations hazard) and all covered personal and advertising injury.
What is each occurrence limit?
Per Occurrence Limit — in liability insurance, the maximum amount the insurer will pay for all claims resulting from a single occurrence, no matter how many people are injured, how much property is damaged, or how many different claimants may make claims.