Comprehensive General Liability Insurance (cgl)

Definition of "Comprehensive general liability insurance (cgl)"

Nicole Middlebrooks real estate agent

Written by

Nicole Middlebrookselite badge icon

RE/MAX REGENCY

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 This form has been replaced by the commercial general liability form (CGL).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.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Present value of future benefits. This type of reserve would be applicable for single premium life insurance, paid-up insurance, single premium annuity, and a paid-up annuity. ...

Condition in which the occupancy or the purposes for which the premises are being used as described in the insurance policy change so as to result in an increased risk. The policy is void ...

Excess of the sales price of an asset over its book value. Listed as part of the Annual Report in the summary of the surplus account and/or in the Summary of Operations. ...

Policy permitting an insured to choose desired coverages. These policies are important for items with relatively low limits of coverage under standard property insurance forms. For example, ...

Legislation that changed the tax treatment concerning child-care expenses so that an employee who has incurred child-care expenses greater than $4800 and who is participating in a ...

Policy that remains in full force and effect for the life of the insured, with premium payments being made for the same period. ...

Form of state rating law that requires prior approval of property and casualty insurance premiums by the state insurance department for certain changes. Here, a state generally allows new ...

Management philosophy developed by W. Edwards Deming, the thesis of which is the continuous improvement in quality through research in customer satisfaction and the empowerment of ...

Comprehensive gain or loss on a security over a stipulated period of time comprised of capital appreciation plus dividend/interest received. ...

Popular Insurance Questions