Commercial General Liability Form Cgl


Definition of "Commercial general liability form (cgl)"

Liability coverage section of a simplified commercial lines portfolio policy (sclp). Provides for separate limits of coverage for general liability, fire legal liability, products and completed operations liability, advertising and personal liability, and medical payments. An aggregate limit of liability is in force for the general liability, fire legal liability, advertising and personal liability, and medical payments claims. When total claims for all of these areas exceed a given annual aggregate limit of liability, the policy limits are said to be exhausted and no more claims for that year will be paid under the policy. There is also an aggregate limit of liability in force for products and completed operations liability claims. This form has replaced the comprehensive general liability insurance (CGL) form.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Casualty

Liability or loss resulting from an accident. Such liability or losses are covered under such policies as the following: business automobile policy (B ...

Comprehensive General Liability Insurance (cgl)

Coverage against all liability exposures of a business unless specifically excluded. Coverage includes products, completed operations, premises and op ...

Bail-out Provision

Clause found in an annuity contract that enables the owner of that contract to withdraw his or her money without surrender penalties, if the annual in ...

Tax Reform Act Of 1986

Legislation to eliminate most tax shelters and write-offs in exchange for lower rates for both corporation and individuals. It was intended to be reve ...

Burglary

Forced entry into premises. Coverage is provided under various property insurance contracts such as homeowners and special multiperil insurance (SMP). ...

Continuance Table

Table used in health insurance premium rate calculations that depicts the probability that a claim will continue by time and amount. ...

Popular Real Estate FAQ

How Do I File An Insurance Claim?

Call your Insurance agent or Insurance Company \"Claims Hotline\" as soon as possible. Getting your agent\'s help, may speed things along. ...

What Do I Need To Know About Auto Insurance?

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you own and the reasons to protect them. The year of ...

What Should I Do If I'm In An Accident?

1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report and obtain medical assistance if needed. 3.- L ...

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Guest passenger liability helps protect you bodily in ...

What Do I Need To Know About Watercraft Insurance?

You need separate coverage for the variety of risks you face when storing, launching, hauling or running your seaworthy vessel. Boats, and other water ...

What Do I Need To Know About RV Insurance?

Your motor home can be both your transportation and your home away from home. So like your auto and your home, you need to safeguard it with the prope ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add real estate terms app
on your Website

Real Estate Advice

Spring Landscaping Ideas to Improve Curb Appeal and Sell Your House DIY Home Improvement to Increase Your Home Value Moving Tips: House Relocation Stress Free Increase Your Home Value With These Home Improvement Ideas Down Payment: Everything You Wanted to Know

FAQ

What is a fixed-rate mortgage? What are discount points? When Should I Get Travel Insurance? What do I need to know about Group Health Insurance? How can I figure out my debt-to-income ratio?