5 Benefits of General Liability policy

5 benefits of General Liability

When you run a business, incidents happen, and they can be costly. That's why your company should consider coverage for possible risks with CGL insurance. This coverage serves as an extra safety net to protect against property damage or bodily injury due to services provided by employees at the workplace. To put it simply a CGL policy casts a wide net to protect you from various liabilities such as:

1) Third-party bodily injury protection

When someone visits your business, you want them to be safe. Even the simplest things like walking on a wet floor can result in serious financial damages, but this is something that an insurance policy called 'third-party bodily injury protection' (CGL) covers for businesses of all sizes.

2) Third-party property damage coverage

A CGL policy will also protect your company if you are found liable for damages to someone's property. This coverage is typically extended to cover damage or loss of use of tangible properties that belong to third parties, which might include vehicles and buildings among other types.

3) Protection against personal and advertising injury liability
Not all damage is physical; a CGL policy protects against personal and advertising injury liability like those committed by your employees including copyrights violations (e.g., software piracy), slander (false statements about someone that harm their reputation or business relationships) libel (written false statement(s)), or malicious prosecutions which are lawsuits brought without probable cause with the intention of causing financial loss to another party

4) Coverage for medical expenses

The medical coverage under a Commercial General Liability policy can protect your company from being sued if someone is injured on the premises or during an incident related to its operations. This type of insurance covers expenses for those who are non-employees, and it allows small claims to be settled without litigation.

5) A It Protects Your Company from Legal Losses

CGL coverage includes protection for legal expenses if your business has a claim filed against it.

Let's be honest, businesses have a lot of liabilities. It doesn't matter what industry you're in- liability is everywhere! In order to keep yourself protected from any financial trouble caused by these potential risks, talk with your insurance agent about updating the limits on your general liability policy so that they match up perfectly for your business needs.

#insurance #commercial #policy

More about our company:

BCS is the only company that successfully handles the entire process of collecting, reviewing and correcting proofs of insurance from your vendors, tenants, contractors, borrowers, etc. Our unique blend of software and dedicated insurance analysts gives you a solution to meaningfully reduce your risk exposure and prevent financial losses by actively correcting insurance documentation.

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For more information:

More about our company:

BCS is the only company that successfully handles the entire process of collecting, reviewing and correcting proofs of insurance from your vendors, tenants, contractors, borrowers, etc. Our unique blend of software and dedicated insurance analysts gives you a solution to meaningfully reduce your risk exposure and prevent financial losses by actively correcting insurance documentation.

[nagarjunaa.s]

Good presentation
Request you to do more videos 👍

[bbbrittanyyy]

3rd party bodily injury protection.
3rd party property damage - loss of use
Protection against personal and advertising liability. Including privacy - false statements
Medical coverage - NON EMPLOYEES
Legal losses - legal expenses/ court cost etc