COMMERCIAL LIABILITY

Commercial General Liability Insurance in Edmonton

What is CGL and why does a business need it?

If you or your company members are to be held responsible for the damage caused to a third party, property or medical wise, you are going to need commercial general liability insurance or CGL. A coverage that will protect your business from facing legal troubles in the event you are sued by the suffered third party. At A-Kan Insurance we help you combat or settle claims against your business for causing injury or property damage, which to be frank, can be quite a pain if not dealt carefully. For example, if a customer gets injured or hurt at your business site, or maybe an employee of yours accidentally damages property at

a client’s business place. You and your business become vulnerable because of potential lawsuits incoming. It is very common to experience lawsuits in the business game. You can not leave your business open to such threats or else your business might face heavy damages that can take a long time to recover. This is why you need A-Kan Insurance to handle your interests and find you the best and most suitable protection.

What’s covered…?

There are four main types of coverage included in the standard Commercial General Liability (CGL) policy: Bodily Injury and Property Damage Liability, Personal Injury Liability, Medical Payments, and Tenants’ Legal Liability (for those that rent or lease their workspace.) We’ll pick these off one-by-one with what will hopefully be an easy-to-understand explanation.

BODILY INJURY AND PROPERTY DAMAGE LIABILITY

Basically, if your company, your product, your work, your employees, or anything else associated with your company causes physical injury to someone like a client, or damages their property or belongings, you could be held legally responsible. If held legally responsible you may be required to pay. It is in cases like these that your coverage will pay for the compensatory damages. Plainly put, compensatory damages are damages meant to compensate. Its purpose is to put things back the way they were (financially) prior to the injury or damage.

MEDICAL PAYMENTS

This part of your CGL policy is interesting, as its purpose is to provide coverage that pays someone’s minor medical expenses from an accident that happens at your company’s premises or as a result of your company’s operations—even though you may never be held legally liable for the accident. In fact, it’s often used as a way to avoid a costly lawsuit.

PERSONAL INJURY LIABILITY

The phrase ‘personal injury’ is confusing because in the insurance world it means one thing, and everywhere else it often means something all-together different. While most people associate ‘personal injury’ with physical injury this is not the case with a CGL policy where it actually means damage (so to speak) of a person’s character, reputation and position in the community as a result of libel (in print) or slander (verbal defamation.) Remember, a liability policy is to protect you if you’re accused of libel or slander, not the other way around.

TENANTS’ LEGAL LIABILITY (FOR THOSE WHO RENT OR LEASE THEIR WORKSPACE)

Suppose you don’t own the space where you’ve set up shop and rent your office, shop or retail space. If you are held legally responsible for causing a fire, explosion, smoke damage, or other damage caused by fire protection (like sprinklers going off) then this coverage will pay the compensatory damages (remember, the intent of compensatory damages is to put things back the way they were.) This applies only to damages of the rented premises – not the property (i.e. product, inventory etc.) that you may personally own.

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