RPLU Commercial General Liability Insurance: Overview
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Course
RPLU
Institution
RPLU
RPLU Commercial General Liability
Insurance: Overview
Indemnity - answerInsurer pays for damages or injury for which the insured is held legally liable
Defense - answerInsurer provides a legal defense against claims of liability
1st Standard Policy General Liability form - answerFirst issued in...
RPLU Commercial General Liability
Insurance: Overview
Indemnity - answer✔Insurer pays for damages or injury for which the insured is held legally liable
Defense - answer✔Insurer provides a legal defense against claims of liability
1st Standard Policy General Liability form - answer✔First issued in 1940. It was a major step toward
consistency, but was still very complex.
Comprehensive General Liability (CGL) Form - answer✔Written in 1966. It was written in simplified
language and provided a policy document specific to the insured.
Broad Form Commercial General Liability (BFCGL) Endorsement - answer✔In 1976, the most common
endorsements were compiled into one single standard endorsement.
Commercial General Liability (CGL) form - answer✔Written in 1986, and is still the form used in writing
insurance in the business market. Caused by a liability insurance crisis (increased number of medical
malpractice lawsuits, asbestos claims, liability for environmental damage at pollution sites, etc). It
allowed CGL insurance to be written on either an occurrence or claims-made basis
Two Primary Types of Coverage Triggers - answer✔Occurrence coverage triggers and Claims-made
coverage triggers
Claims-Made Coverage Trigger - answer✔Coverage trigger that most PLI is written on
Occurrence Coverage Trigger - answer✔Coverage trigger that is triggered by an incident/ occurrence,
which happens during the policy period. Most excess CGL Polices are written based on this trigger
Extended Reporting Period - answer✔Also called tail coverage, this provides protection for claims filed
after a claims-made policy has expired
Retroactive Date - answer✔A date placed on policies to establish a timeframe for covering only the
claims arising from incidents that happen after a specified date
Exclusion of Specific Accidents, Products, Work, or Location Endorsement - answer✔This allows the
insurer to remove certain exposures that may be prohibitive to insure and enables the insured to obtain
coverage for the non-excluded exposures. Commonly called the laser endorsement.
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