who is the insured under a general liability policy
It depends on the wording/coverages of the contractors policy.
It depends if the builder's risk policy is just for property or for property and liability. You can have a builder's risk policy, which includes general liability. If the insured is owner of the building, the general liability exposure is the cost of the project and will classes under subcontractor.
You need a commercial general liability policy.
A Professional liability insurance Policy, as well as a contractors General Liability Insurance policy will provide coverage for the cost of legal defense.
There is no such thing as a "comprehensive" general liability policy. It is "commercial" to differentiate it from personal-lines coverage. It is commercial general liability policy, or CGL; a generally standard group of coverages, exclusions, limits. This is different than a manafest policy where commercial coverages are added in a customized fashion. A comprehensive policy would be one where a business owner (BOP) might purchase with a pre-set group of coverages, exclusions, and limits. Thanks Actually, the term "Comprehensive General Liability" was replaced in 1986 with the term "Commercial General Liability." They are essentially the same policies.
No, there is a business exclusion under the liability section. You personal homeowners insurance will not cover your Commercial activities. You will need a Commercial General Liability policy to cover your business operations.
No. A commercial liability policy specifically excludes liability arising out of the ownership, maintenance or use of a motor vehicle.
The ISO CG 2504 amends a General Liability policy to apply Aggregate General Liability Limits on a per location basis as opposed to a per policy basis.
The amount of coverage and the specifics of coverage will vary from policy to policy. In general liability insurance will cover damages to individuals or entities other than the insured individual. For example, in auto insurance liability insurance will provide for individuals injured in an accident excluding the policy holder.
General liability insurance, or umbrella policy
The term 'excess' insurance is usually for liability coverage. An excess liability policy is also commonly referred to as an 'umbrella' policy because it offers additional coverage over other liability coverages. In the case of a subcontractors insurance, it would be a policy which would extend higher limits than the base policy on general liability and auto liability.
You need A General Liability Insurance Policy
It would depend on how the policy was written as to whether or not a general liability insurer would cancel a policy after an audit where they found out that the company did not report all employees.
Well it depends on the company providing the policy. Most will calculate the premium based on your direct payroll and they could also add in payroll for your subcontractors. If you don't want to pick up the premium charge for your subcontractors you will have to show the insurance company that the subs carry their own liability insurance policy. Hope this helps. By the way NY is a difficult state to even find reasonable liability insurance for general contractors.
I believe it is a Commerical Liability Policy or Business Owners and includes General Liability, Inland Marine & Property or at least that is what I have found in my research
Sure. Depending on your occupation professional liability can be added as a rider to a businessowners policy. Often times professional liability will be a separate policy. I recommend that you contact a good independent insurance agency that represents several insurance companies so they can find you the best policy for your needs at the best price.
Commercial general liability is an insurance policy that protects a business against lawsuits that pertain to bodily injury and property damage that may have come from the business.
A personal liability, or umbrella, policy pays liability limits above those you can get on your homeowners or other basic liability policy. If you are thinking of buying a personal liability policy, begin by finding out the maximum amount of personal liability your homeowners policy provides. Make sure you coordinate the liability limits so that the umbrella policy covers any liability claim in excess of the amount your basic policy will pay, up to the maximum limits of the policy.
Primary and Non-Contributory Wording means your General Liability policy, or any insurance policy that has this endorsement on it, will pay first in the event of a claim. The Non-Contributory part means that not only will your policy pay first, but it will pay the full amount of the claim until the limits are exhausted without your client contributing to the loss with their own insurance. Not all General Liability policies have this coverage built in and it can be quite expensive to purchase if your policy was issued without it.
An insured contractor is a contractor who carries a Commercial General Liability Insurance Policy.
Yes it can. In fact, a policy written on a "Garage Liability Form" will show a limit for "Auto" and then also show a limit for "Other than auto". Auto liability is basically due to the fact that the garage will test drive autos while fixing them. Other than auto is the premises or general liability. This shows that garage liability will also include general liability on the declarations page.
A sunset clause is a provision in a liability policy which states that the insurer will respond only to losses reported before some predetermined future date (sunset), usually a set period after the expiration of the policy.
The answer would depend on what type of suit you are concerned with. For example if you are concerned with an employee suing because of wrongful termination or sexual harrassment this is not something covered under a standard unendorsed General Liability Policy. Some General liability policies will cover this but is is usually a defense only coverage and is very minimal. If this is they type of suit you are concerned with you will need to purchase and employment practices liability policy. Some of the policies can be very affordable depending on the nature of the business and the number of employees.
yes, waiver of subrogation are common to have on general liability but:Your policy might not automatically have itCarriers sometimes charge extra premium for itYou should have a written contract requesting it if you are going to get one done