Commercial General Liability
Overview of Commercial General Liability
Commercial General Liability (CGL) Insurance offers comprehensive protection to businesses against legal liabilities arising from third-party bodily injury, property damage, personal injury, and advertising injury due to business operations, premises, or products.
Key Features Of Commercial General Liability
Key Features policy covers:
- Liability
- Premises
- Injury
- Legal
- Products
- Worldwide
Benefits of Commercial General Liability
- Protects business assets against expensive lawsuits.
- Covers both legal defense costs and compensation liabilities.
- Enhances business credibility with partners and clients.
- Provides peace of mind for business owners against accidental risks.
- Helps comply with contract or client insurance requirements.
Who Should Buy a Commercial General Liability
Buyers:
- Manufacturers and Traders
- Contractors and Builders
- Retailers, Malls, and Restaurants
- Warehouses and Logistics Firms
- Event Organizers
- IT Companies and Consultants
- Hospitals, Hotels, and Institutions
What is commercial general liability insurance in India?
Commercial General Liability (CGL) Insurance covers both Public Liability and Product Liability relating to third parties. Public Liability covers any third party injury/ damage occurring at the insured’s premises. Product Liability protects against damages arising from a manufactured product.
Documents Required
- Duly filled and signed proposal form.
- Business registration documents.
- Nature and scope of business operations.
- List of locations, turnover, and employee count.
- Past claims history (if any).
- Risk assessment or inspection report (if required).
Premium Calculation Factors
- Nature and scale of business activities.
- Annual turnover and number of locations.
- Employee strength and customer footfall.
- Types of products/services offered.
- Risk exposure based on business industry.
- Coverage limits and deductible chosen.
- Past claim records and risk control measures.
