What is commercial general liability insurance?
The commercial general liability insurance has been specially made to keep your business resources and assets secured. Basically, the commercial general liability insurance is a kind of business insurance, which economically safeguards your company from the damages that consequence from an accident, which is fault of you, your equipment or one of your employees during an action of doing the services provided by your company. In fact, these CGL insurance policies are most essential shielding for the policy holders and widely offering the indemnity as well as defence coverage against the claims for property damage and bodily injury. Moreover, this policy also takes a responsibility of covering the costs of injury for you as well as your employees and also covering your legal defence settlement and price too.
Things you must know about product liability insurance coverage
Generally, the manufacturers, retailers, distributors and suppliers have to deal with so called product liability. Actually, the product liability is a component of the law, which builds the sellers and manufacturers liable to any kind of injuries caused by their products to the purchasers. In order to safeguard their business from liability losses because of claims related to injuries to the buyer of a product or any third party due to malfunction of a product. The product liability insurance coverage is a kind of commercial general liability policy, which is often known as products completed operations insurance. Apart from the coverage of this form of business insurance, you should be familiar with the premiums as well.