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9 Cards in this Set

  • Front
  • Back

What is covered under Commericial General Liabilty

1. Premises & Operations Liablity-Includes the ownership matienence, or use of the insured premises and all business operations. Covers losses both on and off premises

2. Products and Completed Operations Liability-Includes injuries or damage that occurs within 1 year after the insured has completed their job and left the site, or relinquished control of a product they manufactured or sold

What is Coverage A - Bodily Injury and Property Damage (PD) Liability

Bodily injuy provides coverage for any injury, sickness, or disease or death suffered by third parties bc of the insured business activities.

Property damage provides coverage for injury to, destruction of, or loss of use to property of others due to the insured business activities

Coverage A can be written on OCCURENCE or CLAIMS MADE form ( the difference is when coverage is activated or triggered)

Occurence made form- Pays losses if an insured is legally liable for injuries or damge that occured during a policy period, even if the claim that has been submitted after the policy expires. LOSS MUST HAVE HAPPENED DURING THE POLICY PERIOD

Claims made form- Involves when the loss occured and when the claim was first made. The claim must be made during the policy period. The loss must have occured on or after the retroactive date (if any), and before the policys expiration date

What is the REtroactive DAte??

This is a date designed to accept a loss that occured before the policys inception date, but has not yet been investigated by an insurer

What is an ERP (Extended Report Periods)

These are known as Tails and can "extend the claim reporting period" They only affect the claim reporting period, NOT the policy period.

*Basic ERP 60 day tail-provides an extra 60 days to report the loss that occured during the p[olicy period

*Basic ERP 5 year Tail-provides an additional five years to report a loss that occurs during the policy period

*Supplemental ERPs-provides an unlimited amt of time to report the claim

What is Coverage B-Personal Injury and Advertising Injury

Personal Injury covers injuries caused to third parties that may result from mental anquish, false arrest or imprisionment, wrongful eviction or dentention, mailicious prosecution, defamation of character, slander or libel and invasion of privacy

What is Coverage C-Medical Payments to Others

MEdical payments coverage provides for neccesary medical, surgical, ambulance, hospital, professional nursing or funeral expenses for third parties injured bc of the insured business opreations without regard for fault


*expenses the insurance company incurs

*up to 250 bail bonds

*any reasonable expenses the insured incurs when the insurance compnay requests the insured assitance in investigated or defending any claim or lawsuits

Who is the insured by Definition of the CGL??

*if the business is a sole proprietorship, the insured is the designated person and the spouse but only for business acts

*if the business is a partnership, the partners and their spouses are the insured but only for business acts

*if the business is a corporation the executive officers and the directors are thr insured but only for business acts. The stockholders are also insured but only in relation to their possible liability as stockholds

Workers comp losses and medical malpractice losses are NOT covered under CGL