Which of the following exposure is the most likely cause for a commercial general liability policy to pay a loss on the behalf of an insured business?
Asked by: Foster Nader | Last update: April 2, 2023Score: 4.9/5 (11 votes)
The most common exposure to loss that a commercial entity has is premises which frequently leads to lawsuits for negligence arising out of the ownership and maintenance of land and buildings.
What are the three conditions that must be met for a loss to be covered under Part A liability coverage?
- It is caused by an “occurrence”
- It is in the "coverage territory"
- It is during the "policy period"
Which legal liability exposures is covered if bodily injury or property damage is caused by the insured's negligent or faulty work?
Which of the following legal liability exposures is covered if bodily injury or property damage is caused by the insured's negligent or faulty work? Coverage is for the bodily injury or property damage caused by negligent work by the insured, but this policy does not cover the actual work.
Why is bodily injury to an employee excluded in commercial general liability insurance?
Why is bodily injury to an employee excluded in Commercial General Liability Insurance? General Liability policies exclude injuries to employees because they are covered by Workers' Compensation. ABC Industries contracts with municipal governments to build bridges, viaducts, and similar engineering projects.
Which of the following acts would not be covered under a commercial general liability policy?
The Commercial General Liability Coverage form excludes bodily injury or property damage that the insured has assumed under any contract or agreement.
Commercial General Liability Insurance 101
What does commercial general liability cover?
Commercial general liability insurance covers claims arising from injuries or damage that your business caused, such as: Damage to someone's property. Bodily injury. Personal injury, like libel and slander.
What is covered by general liability insurance?
What does general liability insurance cover? General liability insurance policies typically cover you and your company for claims involving bodily injuries and property damage resulting from your products, services or operations. It may also cover you if you are held liable for damages to your landlord's property.
What coverage covers claims that arise from injury or damage occurring before the policy period but reported to the insurer after the policy period begins?
Prior acts ("nose") coverage covers claims that arise from injury or damage occurring before the policy period, but reported to the insurer after the policy period begins.
What is typically excluded from an employers liability insurance?
In short, the purpose of employers liability exclusion is to eliminate coverage for those who work directly for the insured and does not exclude bodily injury to employees who do not work directly for the insured, such as employees of the named insured that make a claim against an additional insured.
Which of the following is usually excluded under errors and omissions insurance?
Client injuries, employee theft, client property damage, and cyberattacks are all common exclusions on E&O policies.
Which of the following are covered exposures for bodily injury and property damage under the CGL commercial general liability policy?
One of the exposures that the commercial general liability (CGL) policy covers is bodily injury resulting from the premises, operations, products, and completed operations (Section A). It also covers medical expenses for accidental bodily injury on or away from the premises (Section C).
What is commercial general liability insurance Canada?
Commercial general liability insurance (CGL) will protect your business from lawsuits involving bodily injuries that occur within your workplace, and injuries or damages caused by your employees elsewhere.
What is the difference between general liability and commercial general liability?
General liability insurance (GLI) can help cover claims that your business caused bodily injury or property damage. This coverage is also known as commercial general liability insurance (CGL). You can get GLI as a standalone policy or bundle it with other key coverages with a Business Owner's Policy (BOP).
Which of the following is most likely to occur if it is determined by the audit?
The value of the insured items is determined at the time the policy is written, not at the time of loss. Which of the following is most likely to occur if it is determined by the audit that the deposit premium was too high? A The insurer will have to pay a fine.
Which of the following damages would be covered under the liability coverage of the personal auto policy?
Liability coverage usually provides a maximum of $50,000 for bodily injury (to any one person), $100,000 for bodily injury per accident, and $50,000 for property damage. Under liability coverage, the following people are protected: The named insured or family member (child, spouse).
What is the difference between the commercial general liability occurrence and claims-made forms?
An occurrence policy has lifetime coverage for the incidents that occur during its policy period, regardless of when the claim is reported. A claims-made policy only covers incidents that happen and are reported within the policy's time frame, unless a 'tail' extension is purchased.
What is an exception to the employee indemnification and employers liability exclusion on the business auto policy?
Notable exceptions are domestic workers who are not covered by workers' compensation benefits, as well when liability is assumed by your business under contract.
Which of the following is not one of the common law Defences against an employer's liability?
Proximate Cause - Courts have created only 3 basic defenses, which could relieve an employer of legal liability. Proximate cause is NOT one of them.
Which type of liability policy provides coverage for an incident that occurs during the policy period regardless of when the claim is made?
An occurrence policy provides coverage for incidents that happen during your policy period, regardless of when you file a claim. These policies can be more expensive than a claims-made policy because of how long coverage applies.
What coverage covers claims that arise from injury or damage?
Liability insurance provides protection against claims resulting from injuries and damage to people and/or property. Liability insurance covers legal costs and payouts for which the insured party would be found liable.
What are the three sections of commercial general liability?
In technical terms, there are three primary coverage sections that make up a CGL policy: premises liability, products liability, and completed operations. A CGL policy protects your business from financial loss resulting from claims of injury or damage to others caused by you or your employees.
Which type of policy would extend coverage for actions that occur over a policy period even if the claim is brought at a later date?
An occurrence policy covers claims made for injuries sustained during the life of an insurance policy, even if they're filed after the policy is canceled. They cater specifically to events that may cause injury of damage years after they occur, such as exposure to hazardous chemicals.
What is an example of liability insurance?
Bodily injury includes any injury to a third party, like a customer or client, that happens at your business. For example, if a customer enters your flower shop, slips on your wet floor and breaks their leg, your general liability insurance can help cover the cost of their medical bills.
How does liability insurance protect?
Liability coverage helps cover damages you're responsible for to another party because of an accident. That means it doesn't cover damages to your property or your injuries. Your damages and injuries are protected under other coverages such as: Collision.
How much is commercial general liability?
General liability insurance ranges from an average cost of $340 per year to more than $600. If your business is small and low-risk, you may be eligible for a business owner's policy (BOP), which combines general liability insurance and commercial property insurance at a discount.