Commercial General Liability Insurance (CGL) offers coverage against claims of physical injury or property damage in relation to the business of the Insured.
Every liability policy has a deductible, or retention, which is the amount the policyholder has to pay out-of-pocket in case of a claim
Premiums depend on a variety of factors, including the nature of work done, limit of liability, territory of coverage(limited to India, worldwide or anything in between), number of clients, the infrastructure of the facility, etc.
Limit of Indemnity
This is the sum insured, the maximum the insurer will pay as claim amount under this policy. It is split into two, Any One Accident(AOA), which is the maximum the insurer will pay for a single claim; and Any One Year(AOY) which is the maximum the insurer will pay during a single policy year.
Scope of Cover
The Policy covers:
- Any director, executive officer or worker of the Insured,
- Any Principal, in respect of that Principal’s vicarious liability for the negligent acts or omissions of the Insured,
- The officers, committee and members of the Insured’s canteen, social, sports, first aid/ medical, fire fighting and employee welfare organizations in their respective capacity as such; or
- The legal personal representative of any person entitled to indemnity under the policy in circumstances giving rise to indemnity under this policy.
Designated Premises Clause
Cover is extended to claims arising from listed premises only. You can add premises to the policy.