What would you like to do?
Attorneys will often say there is no difference, when it comes to extending coverage for legal liability. However, depending the specific additional form used there might be substanial differences in the portion of the general liabilty policy that is extended to the named insured versus the additional insured. For instance, older additional insured forms (CG 2010 11/85) extended coverage to the additional insured for "Products/Completed Operations". New forms use wording such as "ongoing operations of the named insured" that limit coverage to the additional insured to the "Premise/Operations" portion of the CGL form. In addition, an additional insured generally has no right to:
- Request policy endorsements or cancellation
- Receive copies of the policy contract, other than the a/i form and a certificate of insurance
3 people found this useful
Was this answer useful?
Thanks for the feedback!
Can an insurance company that issued a general liability policy send a bill pursuant to an audit and request additional premiums on a policy that expired 6 months earlier?
Answer Yes many Liability Policy are subject to audits which occur on policies after the term dates. The reason for this is that the original policy premium is gen…erally based on estimates of of the exposure basis (i.e. payrolls, receipts, etc.) The insurance company is entitled to audit at the end of the policy term to adjust the premium to reflect the actual exposures.
General liability covers Public and Producs Liability, therefore by having General Liability cover, public liability is covered also.
You are the insured. Your landlord or partner or banker may be the additional insured. They have a financial interest in or liability at stake with whatever it is you are insu…ring. It does not cost you more to name an additional insured. Why didn't you aks your agent this question? Can the person I was working for withold money owed to me because I did not put him under additionaly insured? Not legally unless it was contractually noted. If you did not have a loss you can just add the additional insured now. In a contractor/subcontractor relationship the contractor may request the subcontractor to name him "additional insured". In the event that a liability issue arises and is caused by the work of the subcontracor, the subcontractor's insurance will not only cover any claims made against the sub, but will also provide claims made against the contractor in regards to the sub's negligence. Many insurance companies DO charge a flat fee or a percentage based fee to name an additional insured.
A mOn anifestation clause on a full occurence policy completely changes and limits an insured's policy. Most insureds with a manifestation clause on their policy either do not… know they have one, don't know what it is, or are looking for a cheaper policy not a quality policy. a normal full occurence policy as long as the work was done during the insured's policy period a claim has up to 10 years to manifest itself and for claim to be filed. However when a manifestation clause is placed on a policy it limits this to the claim must manifest itself with the insured's policy period. If the claim manifests itself after the policy period the claim will not be covered. It basically turns a policy into a claims made policy except they can say its an occurence policy and they usually leave out the fact it has a manifestation clause. Example: Full occurence policy without manifestation clause- June of 2007 a plumber fixes a pipe in a residence. August 2007 their general liability policy expires. Sept 2007 the pipe leaks due to being welded wrong the home owner files claim against the plumbers insurance company and becaue they were covered when the work was done in June claim is paid out. Policy with a manifestation clause- June of 2007 a plumber fixes pipe in residence. August their general liability policy expires. Sept 2007 the pipe leaks due to being welded wrong the home owner files claim against the plumbers insurance company and it is denied because of insured's *manifestation clause*. Although the work was done in June and the plumber had coverage at that time, the cause of claim did not manifest itself until Sept and their policy expired in August. If the pipe had leaked in August they "may* have paid claim. ***This is risky coverage! Think about if you did a job 1 day prior to the policy expiring. -Insurance Underwriter
What is the difference between farm liability insurance and vacant land general liability insurance?
Farm Liability is often a Farm Comprehensive Personal Liability coverage form and generally covers the land on which you farm as well as the products which you produce a…s a farmer. It covers the personal liability for the insured(s) as well as the farm exposures. There is some off-farm property coverage often written on a Farm Package. Vacant Land General Liability provides protection for the undeveloped vacant property. The definition of vacant property / vacant land is an important item to review in the coverage form. If it's to be undeveloped land and a the insured is putting a road in and / or developing the site, one might need a different class code.
What is the difference between Comprehensive General Liability insurance and Public and Products Liability insurance?
The correct term is COMMERCIAL GENERAL LIABILITY. The term Comprehensive General Liability is a old term that was at one time used as well as Public and Products Liabili…ty. These terms are often used to mean the same ideal. Over the years the legal profession will contunuie to use them in a written contract. However it should be corrected to the correct term so all parties ar not confused. Often you may see the term expressed as COMMERCIAL GENERAL LIABILITY including products and completed operations.
Pretty much the same thing except you pay monthly premiums on liability policies and bonds are usually a one-time deposit of money to your local DMV (Usually around $35,…000 dollars) and they stow that money away and pay it out should you need to pay out damages for a crash.
If you mean the difference between General Liability (GL) and Director's and Officer's Liability (D&O), GL typically covers your products, premises and operations, adver…tising and personal injury liability. D&O covers the liability arising from the operations and decisions of the directors and officers of an organization. Because directors can be personally liable for their decisions, whether for a corporation, limited liability company, non-profit or other form of an organization, D&O provides specific coverage for their liability.
Personal Liability insurance is purchased by individuals and is normally included as part of a residential insurance policy, such as a Homeowners, Condo or Tenants package. It… provides the insured with protection against lawsuits from third parties arising from the ownership and/or occupancy of the residence, including the personal actions of insured persons (eg. a visitor to the residence slips and falls on the front walkway due to a build up of ice/snow). General Liability insurance is the common abbreviation used in the industry to refer to "Commercial General Liability" insurance. A Commercial General Liability (CGL) insurance policy is purchased by a business and provides protection against claims by third parties for Bodiliy Injury and Property damage arising from the operations of the insured. Example: ABC Construction Inc. wins a contract to construct a new office building. During construction one of ABC's employees drops a hammer which hits a passing pedestrian on the head. The pedestrian sues ABC Construction for his/her injuries. ABC's general liability insurer will defend ABC in the lawsuit and pay any judgment which may be rendered against ABC (up to the policy limit). Hope this helps.
Technically, there is no difference between the two, besides the fact that many of the public and product liability risks are often covered together under a general liabil…ity policy. These risks may include bodily injury or property damage caused by direct or indirect actions of the insured. You can read more about public liability insurance on the Bizcover website in related links
The insurer's general undertaking in most liability policies is to pay those sums that the insured becomes legally liable to pay as damages because of bodily injury or propert…y damage to which the insurance applies. The insurer also undertakes to defend the insured against any suit seeking those damages for bodily injury or property damage to which the insurance applies (which means that the insurer hires an attorney and pays related attorney's fees and court costs). These coverages are included under Coverage "A" of the Commercial General Liability policy (hereafter, CGL). Coverage "B" provides protection for personal and advertising injury (distinct from "personal injury"). Coverage "C" provides medical payments coverage for an injured person . There are many exclusions to the coverage provided in the standard CGL policy, which must be filled by endorsements or speciality policies in order for the insured to have truly comprehensive coverage.
A Marine Insurance Policy is the actual contract of insurance between the insurer and the insured. Most of these policies are what is being referred to a Open Marine policies …which means that the policy covers many shipments under one policy. An insurance certificate is issued for a particular shipment that the insured declares under the Open policy. The insured does not issue a policy for each individual shipment.
General liability refers to products completion and labor, while cargo is specific to transportation, such as hauling equipment or goods. The cargo insurance would kick in if …there was damage to the goods in transit. General liability would cover goods in your warehouse or on the docks.
Federally defined acts of terrorism which cause physical damage to your property.
For commercial insurance, the ISO GL form excludes liability from the use, ownership, etc. of aircraft. You would need to buy separate coverage from an insurer that sells airc…raft insurance. Many insurers use this form as-is, or stick very close to it in their own forms.
The difference between employers liability and public liability are simple. Employer liability insurance covers only claims made by the employees against the company. Public l…iability covers claims against the company by the general public as well as third parties claims.