Comprehensive General Liability Insurance (cgl)
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 This form has been replaced by the commercial general liability form (CGL).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.
Popular Insurance Terms
State plans that provide health insurance coverage for those who are unable to purchase medical insurance. Coverage is provided by a specially formed nonprofit-making pool comprised of all ...
Maximum sum of money that the insurance company will pay, during the time interval that the product liability insurance coverage is in effect, for all product liability-related claims ...
Standard property/casualty insurance premium set by a state rating bureau. States have responsibility for regulating insurers and making certain that rates are reasonable. To this end, ...
Account established by the insurance company specifically for beneficiaries of a life insurance policy where the beneficiary has the choice of leaving the death benefit on deposit in the ...
Case where an insurance company is placed by the state court under the control of the state insurance department. Claims are paid in the order filed until the insurance company's ability to ...
Health plans established by associations of hospitals and physicians to provide hospital service and care, and medical and surgical care. ...
Nominal interest rate minus the rate of inflation. ...
Statistical approach stating that if a series of samples is taken from a stable population, the distribution of the means (averages) of these samples will form a normal distribution whose ...
Apparent agreement that is not a valid contract. ...
Have a question or comment?
We're here to help.