0
Does garage keepers liability fall under the broader category of Commercial Liability?
Yes, garagekeeprs is part of the typical commercial insurance policy package, along with business auto general liability and property coverage, among others. Garagekeeps covers the commercial exposure for vehicles left in the insured's possession (which would be excluded under the general liability policy's auto exclusion) and usually has both comprehensive and collsion elements. For example, a vehicle left at a body shop or for an oil change.
What else can I help you with?
How does form cg2010 differs from cg2026?
CG2010 is a standard liability insurance form used for commercial general liability coverage, while CG2026 is used for umbrella liability coverage. CG2010 provides primary liability coverage, while CG2026 provides additional coverage on top of underlying policies. CG2026 often includes broader coverage and higher limits compared to CG2010.
What is the difference between marine general liability and commercial general liability?
Liability provides coverage for claims or losses in which you can be held liable for damages or in which you have been accused of being responsible. Comprehensive coverage would also provide coverage for other aspects of your business, such as property, inventory, business autos and equipment, cash flow, etc..
What is carious liability?
Vicarious liability is a form of a strict, secondary liability that arises under the common law doctrine of agency, respondeat superior, the responsibility of the superior for the acts of their subordinate or, in a broader sense, the responsibility of any third party that had the "right, ability or duty to control" the activities of a violator. It can be distinguished from contributory liability, another form of secondary liability, which is rooted in the tort theory of enterprise liability because, unlike contributory infringement, knowledge is not an element of vicarious liability
Is public liability the same as civil liability?
Public liability and civil liability are related but not identical concepts. Public liability specifically refers to a type of insurance that protects businesses and individuals from claims made by third parties for injuries or damages that occur on their premises or as a result of their activities. Civil liability, on the other hand, encompasses a broader range of legal responsibilities and obligations that arise from civil law, including torts and contracts, and can include various forms of liability beyond just public interactions. Essentially, public liability is a subset of civil liability focused on public interactions and safety.
How is general liability insurance different from comprehensive general liability insurance?
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.
What is the difference between tort and negligence in terms of legal liability?
Tort is a broader category of civil wrongs that includes negligence. Negligence specifically refers to the failure to exercise reasonable care, which can result in harm to others. In terms of legal liability, proving negligence requires showing that a duty of care was owed, that it was breached, and that the breach caused harm. Tort, on the other hand, encompasses a wider range of wrongful acts beyond negligence.
Why do you have to pay general liability insurance on your subcontractors when they have to provide you with general liability in Arizona?
In Arizona, even if subcontractors provide their own general liability insurance, it's often required for the primary contractor to maintain their own policy to cover any additional risks or liabilities that may arise during a project. This dual coverage helps protect against gaps in the subcontractor's insurance, ensuring that the primary contractor is safeguarded from potential claims. Furthermore, having your own liability insurance can also fulfill contractual obligations and provide broader protection for your business. Ultimately, it's a prudent risk management strategy.
What if your legally parked car is hit but it is not covered by collision?
You have to hope the guy who hit it offer up his liability coverage. You might consider broader Auto Insurance Coverage in the future when you can afford it.
Is professional liability covered under a commercial general liability policy?
Normally it is not covered by a CGL policy. However some carriers can add this coverage by endorsement. The recomendation would be to buy a stand alone professional policy. they normally provide broader coverage. Review the policy carefully as these can be very complicated and are normally written on claims made basis instead of a occurrence form. Make sure you clearly understand the differences or you could be caught without coverage at some point in time.
Is the personal liability supplement to the dp program virtually identical to section ii of the ho policy?
Yes, the personal liability supplement to the Dwelling Property (DP) program is quite similar to Section II of the Homeowners (HO) policy. Both provide personal liability coverage for incidents that occur on or off the insured property. However, the DP program typically offers more limited coverage options and may not include certain features found in the HO policy, such as additional living expenses or broader coverage for personal property.
How does sole proprietor partnership private company and public company influence the choice of business ownership factors?
The choice of business ownership is influenced by factors such as liability, taxation, and control. Sole proprietorships offer ease of setup and full control but come with unlimited liability. Partnerships allow shared responsibility and resources but can complicate decision-making. Private companies provide limited liability and can raise capital through private investors, while public companies have access to broader capital markets but face stricter regulations and oversight.
What is the difference between private pleasure craft and third party insurance?
Private pleasure craft insurance covers personal boats and yachts, protecting against damages to the vessel and liability for injuries or damages caused to others while using the craft. In contrast, third-party insurance specifically focuses on liability coverage, ensuring that if the insured party causes damage to someone else's property or injures another person while using their boat, the insurance will cover those costs. Essentially, private pleasure craft insurance is broader, while third-party insurance is a more specific type that can be included in a broader policy.
