Benefits of Commercial General Liability Insurance

Even in the most well-run organizations accidents happen. Whether these incidents result in property damage, bodily injury or both, they can be costly to deal with. As such, it is important for all businesses to be covered for various possible risks through a commercial general liability (CGL) policy.

A CGL policy protects a business by covering various liabilities, such as:

• Third-party bodily injury—Something as simple as a guest or client visiting the business and slipping on a wet floor can result in serious financial damages. CGL policies provide coverage for bodily injuries suffered by third parties on the premises or in relation to business operations.
• Third-party damage—A CGL policy will protect an organization in the event that it is found liable for damages to someone else’s property. These policies typically cover damage to tangible property as well as losses related to such property being rendered unusable.
• Personal and advertising injury liability—A CGL policy will also provide coverage for offences made by employees, such as copyright infringement, slander, libel or malicious prosecution.
• Medical expenses—If a non-employee is injured on the premises or in an incident related to operations, CGL policies will protect the organization. Coverage for medical payments can be triggered without legal action and allows for smaller medical claims to be settled quickly and without litigation.
• A sturdy defence—CGL coverage includes protection for legal expenses in the event that the business has a liability claim brought against it.

Running a business comes with many risks, which makes it important to ensure that the proper coverage is in place. Contact CMB Insurance Brokers for more information on how a CGL policy can provide protection.

For more information on business insurance, or to find out how to reduce your insurance costs call CMB at 780.424.2727 or click here to get a quote.