Comprehensive General Liability Insurance

Insurance is one of the most flexible industries that we have today. Since it usually capitalizes on the occurrence of risks, they have a wide range of risks that they do cover and each risk has its own policy cover different from the rest. Each risk is unique in its own way and thus the reason to different insurance covers. Comprehensive General Liability Insurance is a special type of insurance cover that is mostly purchased by large contractors. This policy covers third party claims and this is the reason to why it is mostly popular with oil and gas related companies due to their nature of their activities.

Comprehensive general Liability insurance is a cover designed to protect the insured against all legal liabilities to the third party that might arise from their business activities. This policy is also popular with the contractors and all the manufacturing industries. The policy is ideally meant for the large and medium enterprises that are much involved in processing, manufacturing, exploration, extraction and servicing. It covers all the third party liabilities unless excluded. The policy can be broken into four main sections that explain how it covers different claims.

  1. Public and Advertising liability – In this section, this cover deals with all the legal liabilities to the third party for personal injury, destruction of their properties by the insured company, trespass on their property or any form of interference caused by any occurrence while the insured is carrying their business activities. this can even a falling brick from the insured property destroying some ones wind screen.
  2. Sudden & accidental pollution liability – This is the section that purely deals with any legal liability to third parties that may arise from the pollution and contamination of the environment. This must be directly connected to the insured business activities and within the coverage territories. This pollution and contamination may have caused disease, body injuries or destruction of third party properties.
  3. Product & completed Operation Liability –This section covers all sums that the insured is legally liable as damage payment. This may payment be death, disease or destruction of property caused by nature of a product that was constructed, serviced, supplied, sold, erected or manufactured by insured or his employees while engaged in business.
  4. Employer's liability – This is the last section of the comprehensive general liability insurance cover and it protects the employer against any legal liability to his employee for accidental diseases or body injuries that occurred in the course of their employment and in the business.

With these four sections, this policy will have covered all the main areas that any contractor, manufacturer or any business will be safe from the third party's financial claims. It is a very flexible insurance cover and unless a claim has been excluded from the policy, it covers any claim that the third party may launch against a business while they are in operation. To the insured, this cover will go ahead to pay for all the costs incurred during the defense. This is the most preferable insurance covers that any medium and large business should go for.