[av_textblock size=” font_color=” color=” id=” custom_class=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-kgjo2bx1′ admin_preview_bg=”]
All businesses (including construction contractors/builders, condos, co-ops, apartment buildings, and property managers) typically maintain Commercial General Liability (CGL) Insurance.
Most carriers providing CGL Insurance utilize boilerplate policy language (published by Insurance Services Office, Inc. [“ISO”]), which contains standard coverage and exclusion language, regardless of the type of business being insured.
For instance, the ISO “CG 00 01 04 13” policy form could be used for both a general contractor and a landlord. The “standard” CGL policy language is often supplemented by various endorsement and/or exclusion forms, which can broaden and/or restrict coverage beyond the standard CGL provisions.
In very general terms, the most important CGL policy coverages for Builders Institute (BI)/Building and Realty Institute (BRI) members involve protection against damages (e.g. judgements/settlements), and related legal fees, for claims involving “bodily injury” to a person or “property damage” to a person’s or company’s property. The CGL policy also provides coverage for “products/completed operations,” “personal/advertising injury,” and “medical payments.”
Read More
[/av_textblock]
