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• We are NOT intended to Criticize any specific Person or Organization
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TOPIC: 10 Things To Focus In Commercial General Liability Insurance
#Myths About Commercial General Liability Policy
• It is for Larger Corporate
• It is for Profit Making Companies
• Its is for Export Oriented Companies
• It is for Software Companies
• We have Product & Professional Liability
1ST – FORM OF COVERAGE in commercial general liability insurance
• Claims Occurrence Basis
• Life-time Coverage
Claims Made Basis
• Within Policy’s time frame
2ND – AOA : AOY
AOA : Any One Accident
AOY : Any One Year
• 1 : 1
• 1 : 2
• 1 : 4
“1:1” Cover is always Superior
Claim Payable
• 1 : 1 – Rs 40 Crs
• 1 : 2 – Rs 25 Crs
• 1 : 4 – Rs 12.5 Crs
3RD – COVERAGE in commercial general liability insurance
• World-Wide Coverage
• Restricted Countries Coverage
4TH – JURISDICTION in commercial general liability insurance
• Any Where in the World
• Restricted to a Country
5TH – DEFENSE & INVESTIGATION in commercial general liability insurance
Expenses coverage options
• Up to Aggregate Limit
• Limited Coverage
Most of the cases Defense cost is More than the Compensation Payment
6TH – PREMISES COVER in commercial general liability insurance
As Third-Party Liability arising out of “your product” or “your work”
• Bodily Injury & Property Damage
• Medical Expenses Cover
• Personal & Advertisement Injury
Coverage up to Aggregate Limit is required as Most of the claims are reported in this Section
• Bodily Injury
Sickness, or disease sustained by a person, including death resulting from any of these at any time
• Medical Expenses
1. On premises you own or rent
2. On ways next to premises you own or rent
3. Because of your operations
Payments made regardless of fault with No deductible
• Personal Injury
• an offense arising out of your business activities.
• Libel & Slander
• False Arrest
• Advertisement Injury
7TH – CERTIFICATE OF INSURANCE in commercial general liability insurance
Protecting the interest of Buyer / Vendor / Subsidiary covering as additional Insured
• Up to Aggregate Limit
• Limited Coverage
8TH – REGULATORY CRISIS COVER in commercial general liability insurance
Expenses coverage options in commercial general liability insurance
• Up to Aggregate Limit
• Limited Coverage
9TH – REPORTING PERIOD in commercial general liability insurance
Longer the extended Reporting Period better the coverage
• Normally – 30 Days
• Best cover – 90 to 120 Days
10TH – PRODUCTS & COMPLETED OPERATIONS COVER in commercial general liability insurance
Coverage options
• Automatic
• Underwriting Approval
NOTE: The statements mentioned are based on the feedback received. NOT Intended to a particular Person or a Particular Organisation
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