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.
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
PERSONAL INJURY LIABILITY
TENANTS’ LEGAL LIABILITY (FOR THOSE WHO RENT OR LEASE THEIR WORKSPACE)
A. One of your sales people is out on a call at a potential client’s store. The owner of this store thinks your product will sell well in their store and is considering placing an order. Unfortunately, in their over-zealous sales pitch your salesperson knocks over a whole display of very expensive figurines valued at over $25,000.
B. You’ve finally opened the doors to your trendy new lighting and fixture showroom and you’ve got the table and floor lamps, sconces, ceiling fans and chandeliers that all the city’s interior designers want. Unfortunately, unbeknownst to you, a shopper moved a few floor lamps around while deciding on whether they wanted to buy. In doing so, the lamp’s cord is no longer neatly tucked out of the way, and another shopper, a few hours later, trips and falls over the cord, breaking her ankle.