Does an individual Real Estate sales agent need to carry his own general liability policy?
Errors & Omission Insurance is suggested.
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. Read More
who is the insured under a general liability policy Read More
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. Read More
You are starting a residential cleaning business Should you get general liability insurance or professional liability insurance?
You need a commercial general liability policy. Read More
A Professional liability insurance Policy, as well as a contractors General Liability Insurance policy will provide coverage for the cost of legal defense. Read More
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… Read More
Does a commercial general liability policy also provide excess vehicular liability coverage beyond the coverage in the driver's separate mva policy?
No. A commercial liability policy specifically excludes liability arising out of the ownership, maintenance or use of a motor vehicle. Read More
Broadly, a liability insurance policy provides a source of recovery for a third party who or which is injured or sustains monetary damages due to the negligent act or omission of the insured. The corollary is that a liability inurance policy provides protection to the insured for the risk of financial loss to a third party as a result of the insured's negligence. Assuming that tje damages sustained by the third-party results from a covered… Read More
General liability insurance, or umbrella policy Read More
Would a general liability Insurer cancel a policy after an audit upon finding out the company did not report all employees?
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. Read More
You need A General Liability Insurance Policy Read More
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 Read More
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. Read More
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. Read More
You may wish to contact an attorney on this issue and I am not an attorney. But here goes. If the proceeds from a life insurance policy were designated to an individual and this person had no liability for the debts then the money would not have to be used to pay debts that solely belonged to the deceased. If the beneficiary of the life insurance policy was the "Estate of Insured" then the debts… Read More
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… Read More
Which insurance policy covers various claims for mistakes neglect or carelessness in the normal business activities of a real estate brokerage?
liability Read More
An insured contractor is a contractor who carries a Commercial General Liability Insurance Policy. Read More
Can independent contractors be covered under a company general liability policy while performing their services?
It depends on the wording/coverages of the contractors policy. Read More
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. Read More
NO Totally seperate policies, tenant legal liability can be added to bops, general liability can be found within a bop policy, but they are different coverages. Work with your broker to understand what insurance coverages your company needs and why. Read More
Mark G. Lichty has written: 'Annotated commercial general liability policy' -- subject(s): Insurance, Liability, Liability Insurance, Policies Read More
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. Read More
Is there Coverage for owners and or supervisors if sued by employee under the general liability 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… Read More
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… Read More
A contractor typically needs a Commercial General Liability Insurance Policy. If the contract includes professional services, then the contractor will likely be required to carry Professional Liability Insurance, either in addition to, or in place of a CGL policy. It really just depends on the nature of the services contracted. Read More
It may or may not but in general does not need to as the life insurance policies are individual contracts and would name a beneficiary who receives the death benefit outside of the will, estate and probate if properly named. Stated otherwise, the proceeds are paid to the beneficiary named in the policy. If that is a person or an entity other than the estate of the deceased, the proceeds do not become a part… Read More
While it depends on the terms of the policy and the coverages/endorsements the policy owner purchased, General Liability insurance is designed to provide financial protection in case your business is ever sued or held legally responsible for some injury or damage. General Liability typically includes liability protection for your company's completed products or services. Often General Liability is meant to provide protection for the location of your business (your office), not out in the field… Read More
Liability Coverage under an auto policy has what components: Medical payments Collision Comprehensive None of these Liability Coverage under an auto policy has what components: Medical payments Collision Comprehensive None of these Liability Coverage under an auto policy has what components: Liability Coverage under an auto policy has what components: Read More
Look for a Businessowners policy - THis will provide you with Property, General Liability, Crime and Food Spoilage. Read More
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… Read More
I would say that you need a policy for the entire year. The reason I say this is because of claims purposes. A general liability policy can be a reasonable premium for the year. I have several markets with competitive rates now so they are out there. Read More
Perhaps, contact a few agents in your area, they will be able to answer this or refer you to an agent/company that can. yes Read More
To my knowledge there are no loss payees on general liability policies as there is no property coverage on general liability. Loss payee is a term on a property policy used to indiciate that the loss payee listed would get paid in the event there was a property claim. Most frequently a mortgagee or lender asks to be loss payee. General liability policies have additional insured endorsements to extend coverage to third parties who you… Read More
Federally defined acts of terrorism which cause physical damage to your property. Read More
Because some of the types of losses covered by General Liability Insurance are excluded. It does not cover you for discrimination or other illegal acts on the part of the employer. Read your General Liability policy and you will see it is for premises liability and property damage as well products completed and injury to your customers. Employment Practices Insurance covers liabilities that could arise from the way you hire and fire your own employees. Read More
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. Read More
I have commercial general liability in the amount of one millin and one million. I never had to show a driver's license. Why would you have to show a drivers licence when obtaining commercial general liability? (unless you wanted commercial general liability on a vehile, I declined to cover a vehicle). Yes you can, the GL policy covers anthing you may do incorrectly while working, it does not cover you while driving any vehicle. Read More
One Insurers total liability of a series of policies owned by the same Individual or Company Read More
You will need a general liability policy and you might be able to get a business owners policy that would cover your property and your liability all in one policy. The most inclusive type of insurance package is a Business Owner's Policy (BOP). Many insurance companies have specialized BOPs that are comprehensive but priced to suit the small business market. The BOP includes both property damage and liability coverage. Typically this includes loss of property… Read More
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 liability 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 Read More
Where in a Commercial General Liability policy with Products and completed operations coverage would a General Contractor be covered for defective workmanship and building code violations?
Defective Workman ship is not covered. Read More
Too many factors are used in rating a policy contact a few agents and request quotes. Read More
This would be covered under your general liability policy for your business Read More
On a general liability policy, the general aggregate is the highest amount that will be paid out in a policy period no matter how many claims. For example, you may have a $1 million per occurrence limit which would mean with a $2 million aggregate, you could theoretically have (2) $1 million claims. Read More
Business Liability Insurance is typically sold as "General Liability" insurance to businesses in order to provide coverage for the day to day operations of the business. Depending upon the kind of business it is, there are different categories of liability insurance for businesses. For instance if a business manufactures, then Product Liability Insurance is necessary to cover claims against the business arising from the use of their products. If the business is a service business… Read More
Well you should have a general liability policy that covers the business and you should also have an errors and omissions policy that covers you for any errors or omissions that you my be responsible for. Read More
A general liability policy has fire legal liability does this provide any of the property perils say hail or wind damage to the building or space the insured is occupying?
No, the coverage would only apply for losses as a result of a fire. Read More
Who is a professional when referring to the exclusion under a commercial general liability policy for professional fees?
The "Professional",, would be the person or entity "Insured" under the contract. Read More