General Commercial Liability
General Liability insurance is the most required and most well known type of insurance; however business owners often assume it covers more risks than it does.
A key coverage section which is sometimes NOT included is Products / Completed Operations. Some insurance companies will remove this coverage if they view the product made or sold, or the nature of operations is too high risk. Without this coverage, the policy is basically providing "slip-n-fall" coverage as the injury or damage cannot be tied to your product or operation. All coverage including in a typical, basic GL policy includes:
- Premises Liability (for owned or leased locations)
- Products / Completed Operations
- Personal & Advertising Injury (for non-advertising businesses)
- Medical Payment
- Fire Legal Liability (damage to premises you rent)
- Employers Liability (can be included)
People often expect Errors & Omissions (Professional Liability) to be included under their GL policy; however this risk is almost always excluded. Reviewing the exclusions on this policy can be a good way to evaluate what business risks exist and may be of concern. Separate policies are available to cover most of the exposures excluded (Employment Practices, Auto, Errors & Omissions, Cyber / Privacy, Workers Compensation, etc)
Nature of operations / revenue from US & foreign sales / total payroll / total subcontracted costs / square footage of owned or leased space / claim history.