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BUSINESS COVERAGE:
Package policies
Business Automobile
Workers Compensation
Liability, Fire, Crime, Marine
PERSONAL COVERAGE:
Automobile
Homeowners
Umbrella
Valuable Property
FINANCIAL SERVICES:
I.R.A. Pensions
Life Insurance
Disability Plans
Group Medical Insurance
PROFESSIONAL COVERAGE:
Medical Malpractice
Diretors & Officers
Errors & Omissions
Employement Practices Liability
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OVERVIEW OF THE COMMERCIAL GENERAL LIABILITY POLICY
The Commercial General Liability (CGL) Policy is a comprehensive , multi-coverage program. It is designed to cover the bodily injury and property damage liability exposures which result from the operations of a commercial venture with respect to negligence, unintentional tort, as well as contractual and contingent liability. Instead of having to select and group the specific hazard areas of coverage to the insured (which may result in potential gaps in insurance program), a comprehensive coverage approach has been used. The basic areas covered by the CGL include the insured's ownership or use of the premises; coverage for "insured" contractual agreements; coverage for products manufactured, sold or distributed by the insured; completed operations of the insured; personal injury and advertising injury liability of the insured ; and medical payments coverage. All of the coverage areas are subject to policy definitions, exclusions and limitations.
The basic general liability coverage form may be tailored in many ways with a multitude of optional forms and endorsements to ether broaden , delete or restrict the core coverage to form a contract specifically designed for the individual insured.
Two CGL Policy Programs are available. The first is the "occurrence" based policy. This policy provides protection for covered losses where the actual injury itself occurred during the covered policy period, regardless of when notification of the loss or claim happened. The key coverage revolves around the date or period of time of the occurrence of loss or injury.
The second policy option offered is the "claims-made" policy. For "claims-made" policies , coverage is triggered by the actual filling date or receipt of the claim , in addition to the date (period) the loss or injury occurred. Any coverage loss or claim filled within the policy period is handled by that policy, regardless of when the actual loss or injury occurred. This is subject to retrospective date , however. The retroactive date is the point in time, set at the inception of thew policy, that should indicate when claims-made coverage first began , and prior to the date, loss or injury should be covered by the occurrence policy. Only loss or injury that occurs after the retroactive date is covered by a claims-made policy.
The Commercial General Liability Policy is very broad and covers all commercial exposures . Some limitations result from eligibility criteria with respect to the use of a Commercial Package Policy and the application of package policy discounts , but no limitations apply to the use of the Commercial General Liability Policy itself. It has been designed to meet the general liability needs of virtually any commercial risk.
Should you wish further information on these discounts, please feel free to call.
*Source: PF7M
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