CGL structure, business owners policies, workers comp coverage and umbrella policies.
39 cards · basic cards · AI-written, checked twice. Edit anything.
- What is Commercial General Liability (CGL) insurance designed to protect?
Show answer
Business liability for bodily injury, property damage, and advertising injury caused to third parties- What does Coverage A in a CGL policy cover?
Show answer
Bodily injury and property damage liability from business operations- What does Coverage B in a CGL policy cover?
Show answer
Personal injury and advertising injury- What does Coverage C in a CGL policy cover?
Show answer
Medical payments for injury or sickness arising from the insured's business operations- What is meant by 'occurrence' basis in a CGL policy?
Show answer
Coverage applies to accidents that occur during the policy period, regardless of when the claim is reported- What is meant by 'claims-made' basis in a CGL policy?
Show answer
Coverage applies only to claims reported during the policy period- What is the difference between a per-occurrence limit and a general aggregate limit in CGL?
Show answer
Per-occurrence is the maximum for any single incident; general aggregate is the maximum for all occurrences in the policy period- What is the Contractual Liability exclusion in CGL?
Show answer
The policy excludes liability assumed under contract unless coverage is specifically added- What does the XCU exclusion exclude from CGL coverage?
Show answer
Explosion, collapse, and underground property damage- What does the pollution exclusion in CGL exclude?
Show answer
Liability arising from the release, escape, or discharge of pollutants- What does the Products-Completed Operations coverage in CGL protect against?
Show answer
Liability arising from products sold or services completed after they leave the insured's care- What is a Business Owners Policy (BOP)?
Show answer
A package policy that combines general liability, property coverage, and business interruption insurance- What types of businesses typically qualify for a BOP?
Show answer
Small to medium-sized businesses, generally with revenues under a certain threshold and not involved in high-hazard operations- How does a BOP's general liability component compare to standalone CGL?
Show answer
BOP liability is typically more limited in coverage scope and amounts than standalone CGL policies- What property does a BOP typically cover?
Show answer
The insured's building, business personal property, and improvements made by the insured
FlashKeepers