Commercial General Liability

the insured carries a cgl with an aggregate limit of 50000 and a per occurrence limit of 100000 and a personal and advertising injury limit of 100000. two separate claims are filed. A claim for bodily injury in the amount of 150000 occurs and a personal injury claim of 50000 occurs. How much will be left of the aggregate limit if these claims are paid. 350000 400000 450000 300000

300000

CGL insured means any individual or sole proprietor, partnership or joint venture, LLC, organization other than these, trust, all are considered as an Insured.

Definition of insured in the CGL policy

Contractual Liability for Insured Contracts-

Say you lease a building , you are responsible, not the person who owns the building. Sidetrack agreements, this lets the railroad have insurance that they are not held responsible if the company has an occurrence. you may also have an agreement with a city or town that says that you are responsible for the sidewalk or easement or a sign hanging over a street. hold harmless agreements is not avalable for Architeects engineers or surveyors.

Coverage A Bodily Injury and Property Damage Coverage B Personal Advertising Injury Liability Coverage C Medical Payments to others Damage to Premises Rented to You Owners and Contractors Liability (OCP)

THis is the structure of a Commercial Liability Policy CGL

The Occurrence Form is for when you have coverage and the policy is in effect and the claim is made during the policy period. This is for an indefinite period of time.

The Claims Made form is for if the policy expires prior to the person making their claim that was covered during the policy period. This form has a retroactive Date that lets you avoid coverage gaps.

If the coverage has been cancelled and you no longer have coverage but someone files a Claims Made form for a claim that was while you did have coverage then the claim will be paid.

The extended reporting periods are known as Tails. Basic Extended Reporting Form is automatically provided with the CGL policy as long as the claim is made within the 60 days by the insurer after the policy expires or within 5 years from a 3rd party. Supplemental Extended Reporting Period- this costs extra and they pay 200% of the expiring policy premium to keep this coverage. But this coverage covers you forever for claims against you. Laser Beam Endorsements cost extra and this form lets the insurer exclude certain things specifically. Like they dont want to insure Laser Eye surgery, for example, they would endorse the policy with the Laser Beam Endorsement and exclude certain activities from coverage.

all of the following are true regarding the retroactive date of the claims made form except is the date after which an ocurrence must have happened in order for coverage to apply there is no coverage for occurrences that happened before the date shown in the declarations there is coverage for ocurrences that happend 60 days before the date shown in the declarations the claim for an occurrence must first be made during the policy period

There is NO coverage for before the date shown on the declarations page

Coverage B is Personal Advertising Injury is an injury including consequential bodily injury resulting from oral or written publication of materail that slanders or libels a person or belittles a person or their products, oral or written publication of materials that violates a persons right of privacy, infringement of copyright, title or slogan.

This is due to false arrest, detention or imprisionment, malicious prosecution, wrongful eviction, defamation of character, or invasion of privacy

In CGL you have how many types of forms ?

Two Occurrence Form- for claims made by bodily injury or property damage that happens during the policy period Claims-Made Form , the trigger changes from when it occurred to when it was reported. After the policy was expired.

CGL is Commercial General Liability Insurance

Used to provide liability coverage for all types of businesses except Automobile dealerships.

although CGL policies exclude liquor liability for bars, the policy would provide coverage for a pool haull with half its revenues coming from beer sales a textile co that serves beer at an annual company picnic a catering service with a liquor license a restaurant with a cocktail lounge

a textile co that serves beer at an annual company picnic is covered

products liability can involve improper product design deceptive advertising improper assembly of the product all of the above

all of them

medical payments under general liability policies include first aid at the accident scene surgical expense funeral expense all of these

all of those

contingent liability refers to liability that arises out of the work done by independent contractors employees service personnel all of the above

an independent contractor can cause a loss that costs you money

completed operations liability involves loss away from premises in all cases except those involving service establishments procesing establishments auto repair shops on going operations

an ongoing operation is a premises operation claim

the premises liability hazard applies to the owner of the premises the renter of the premises both neither

applies to both

a basic extended reporting period is provided under the claims made cgl which is effective on the date the policy is issued automatically without additional charge misappropriation of ideas libel through written publication

automatically without additional charge

Under the Occurrence form, the insurer is open to future claims for 30 days following the expiration of the policy for one year following the occurrence an indefinite period of time for 60 days following the occurrence

for an indefinite period of time

This endorsement to the claims made form permits the insurer to exclude coverage for speciifc accidents, products, work or locations. coverage tail extended reporting laser beam supplemental reporting

laser beam

Products liability will cover all of the following except deceptive advertising improper assembly of a product failute to inspect or test the product misuse of the product

misuse is not covered.

Completed operations liability coverage involves a loss away from the premises in all cases except those involving auto repair shops service establishments on going operations processing establishments

on going operations

operations are completed when work has been completed work as been put to use either of those neither of those

operations are completed when either of those happen

an owner of a sonsturction job would probably need ______ coverage to cover their contingent liability as a result of work being performed on their behalf by contractors. owners and contractors protective products completed operations premises operations contractual liability

owners and contractors protective

Premises and Operations - the premises hazard includes things like falling down claims.

part of coverage A in the CGL It includes premises listed in the declarations page or newly acquired property if the insurer is notified within 90 days.

All of the following are elements of negligence, except injury duty premises proximate cause

premises is not considered to be an element of negligence

a salesman at a hardware store drops a hammer on a customer, the loss would be premises operations contractual products completed operations

premises operations

while working at the consturction site, a worker drops a hammer from the roof and hits a passerby. This loss would be classified under the _______hazard. premises operations contractual products completed operations

premises operations

a salesperson at a hardware store drops a hammer on a customers foot. this loss would be classified as which of the following hazards premises operations hazard products hazard contractual hazard completed operations hazard

premises operations hazard

Insured contracts include all of the following except lease of premises contract with a business to do service work sidetract agreeements elevaor maintenance agreements

service contracts are not insured

personal injury includes all of the following except libel slander defamation of character statements that are known by the insured to be false

statements known to be false are not covered

Coverage A in CGL is for Bodily Injury and Property Damage BI/PD

the company becomes legally liable to pay because of bodily injury and property damage caused by an occurrence. Coverage A claims are classified according to the hazard involved.

the premises liability hazard covers occurrences taking place in or on all of the following locations except the premises alienated by the named insured the final destinaion premises of the purchased insured products ways immediately adjoining the insured premises the premises designated in the declarations

the final destination premises of the purchased product

Products and Completed Operations covers a contractor after his work is done or after a product is made and sold and left your store.

this protects you from BI and PD that happens AWAY from your premises