This policy protects your business from financial losses, includes
legal costs and compensations arising from property damage or bodily injury caused to
any third party due to –
- The services rendered
- In-course of business operations
- Negligence of any employee
- Includes, non-professional neligent acts: Up to the precribed limits
fore-mentioned by the policy
- While visiting your business, a customer trips on loose flooring and is injured.
- An employee in your painting or construction business accidentally leaves water
running, causing substantial damage to a customer’s home.
- A class action lawsuit is filed against your business, alleging advertisements
constituted misleading information.
This cover provides protection against losses from the legal
liability for bodily injury or property damage to others arising out of non-professional
negligent acts or for liability arising out of their premises or business
operations. Mental injuries and emotional distress can be considered bodily injuries,
even in the absence of physical bodily harm.
Personal and advertising injury protects an insured against
liability arising out of offences, such as:
- Libel
- Slander
- False arrest
- Infringing on another’s copyright
- Malicious prosecution
- Use of another’s advertising idea
- Wrongful eviction, entry or invasion of privacy
Medical payments includes limited coverage for injuries sustained by
a non-employee caused due to an accident that takes place on the insured’s premises or
when exposed to the insured’s business operations. CGL pays for all
necessary and reasonable medical, surgical, ambulance, hospital, professional nursing
and funeral expenses for a person injured or killed in an accident taking place at the
insured’s premises or arising from business operations.
" A ‘Claims Made Policy’ is where the claim would occur and has to
be lodged within the policy period. This is usually given in conventional CGL policy &
would only become relevant when the policy is not renewed subsequently.
"
" Occurrence Based Policy is relevant to CGL Policy where the
claims, which have taken place during the currency of the policy, can be lodged even
after the expiry of the policy period, even if the policy is not renewed "