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Getting to Know General Liability
Walk away from your customer smelling like a rose. Get to know and understand General Liability (GL) coverage.
Included within this Reference Guide, you will find various GL terms & definitions. These terms are outlined within the proposals sent to you by NEA. This guide will serve as an aid to help you and your staff to understand General Liability coverage.
OCCURRENCE LIMIT – An accident, including bodily injury or property damage, which occurs during a policy period.
AGGREGATE LIMIT – the maximum amount the policy will pay during a policy term.
PREMISES/OPERATIONS – Included in the Business Liability. Premises exposures arising at the place of business, such as a store or office, (a slick floor or loose board might cause injury.) Operations exposure relates to the insured’s ongoing operations – generally associated with manufacturers, processors, or contractors, The CGL policy covers these operations whenever the insured is operating. (A contractor who has several jobs going on at one time has operations coverage at each jobsite).
Included in the Business Laib. Provides protection for all injuries occurring away from the premises & arising out of the insured’s work or product.
- The products exposure is the possibility that a product sold, manufactured or distributed by the insured might injure a person.
- Completed Operations exposure relates to the insured’s liability for work that have performed and finished.
PERSONAL INJURY – A General Liability coverage that provides protection if the insured is accused of publishing (whether verbally or in writing) inaccurate information that slanders or libels a person or organization; publishing materials that violates a person’s right to privacy; false arrest, detaining or imprisoning someone; maliciously prosecuting someone; wrongfully evicting someone.
ADVERTISING INJURY – A General Liability coverage, combined in standard commercial General Liability policies with Personal Injury coverage, that insures the following offenses in connection with the insured’s advertising of its goods or services; libel, slander, invasion of privacy, copyright infringement and misappropriation of advertising ideas.
BUSINESS LIABILITY COVERAGE – Provides liability coverage for business operations if a claim arises due to bodily injury to customers of the insured or to the general public. Coverage is also provided for damage to property owned by the others.
CONTRACTUAL LIABILITY – A General Liability coverage that extends to any liability the insured may assume by entering into various types of contracts, some of these contracts may include a building lease; an easement of license agreement; an agreement to indemnify a town or city if required by ordinance; an elevator maintenance agreement.
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