Insurance policy that covers claims arising from an insured’s liability due to damage or injury (caused by negligence or acts of omission) during performance of his or her duties or business.
Occurrence basis
The coverage trigger of an occurrence form is bodily injury or property damage that occurs during the policy period.
Claims-made basis
The coverage trigger of a claims-made form is the making of a claim against the insured during the policy period.
Coverage against all liability exposures of a business unless specifically excluded. Coverage includes products, completed operations, premises and operations, elevators, and independent contractors. This form has been replaced by the Commercial General Liability Form (CGL).
Products coverage insures when a liability suit is brought against the manufacturer and/or distributor of a product because of someone incurring bodily injury or property damage through use of the product. (The manufacturer of the product must use all reasonable means to make certain that the product is free from any inherent defect.)
Completed operations coverage for bodily injury or property damage incurred because of a defect in a completed project of the insured.
Premises and operations coverage for bodily injury incurred on the premises of the insured, and/or as the result of the insured’s business operations.
Elevator coverage for bodily injury incurred in an elevator or escalator on the insured’s premises.
Independent contractor’s coverage for bodily injury incurred as the result of negligent acts and omissions of an independent contractor employed by the insured.