Objective 1 : Overview of Commercial General Liability Insurance Flashcards
Bodily Injury and Property Damage Liability (A)
(1) Premises and Operations
- Accident that either occurs on the organization’s
premises or arises out of the organization’s ongoing
operations on or off those premises.
- Usually based on negligence
- Contractual liability for bodily injury or property
damage is often considered to be part of the
premises and operations liability exposure.
- Bodily injury or property damage arising out of the
use of aircraft, autos , or watercraft or injury / illness
of the organization’s employees is excluded.
(2)Products and Completed Operations
- accident arising out of products manufactured and
occurring after the products are no longer on the
organization’s premises or by an accident arising out
of the organization’s completed work, including
defective parts or materials furnished with the work
- arise from negligence, strict liability in tort,
misrepresentation, fraud, and breach of warranty.
Personal and Advertising Injury Liability (B)
any kind of injury (such as loss of reputation, humiliation, economic loss, or even consequential bodily injury) arising out of any of several listed offenses
Medical Payments (C)
does not require the insured to be legally liable and, therefore, is not technically liability insurance.
must result from bodily injury because of an accident occurring on the insured’s premises or arising out of the insured’s operations (other than completed operations) anywhere in the coverage territory.
much lower limit of insurance than either Coverage A or Coverage B.
Components of a General Liability Coverage Part
(1) General Liability Declarations
(2) General Liability Coverage Forms
- Coverages : This section contains one or more
insuring agreements and applicable exclusions, as
well as supplementary payments in some forms.
- Who Is an Insured
- Limits of Insurance
- Conditions
- Definitions
(3)
