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What is general liability insurance?
What is general insurance?
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Feb 28, 2024 · Insurance is a contract (policy) in which an insurer indemnifies another against losses from specific contingencies or perils. There are many types of insurance policies. Life, health,...
- Julia Kagan
- 1 min
What is 'General Insurance'. Definition: Insurance contracts that do not come under the ambit of life insurance are called general insurance. The different forms of general insurance are fire, marine, motor, accident and other miscellaneous non-life insurance.
Mar 24, 2022 · General insurance is a form of risk management primarily used to hedge against the risk of potential financial loss. It is the equitable transfer of the risk of a possible loss, from one entity to another, in exchange for a premium and duty of care.
Apr 17, 2024 · Simply put, the definition of insurance is a contract between an individual (known as the “policyholder”) and an insurance company. In this contract, the insurance company, or carrier, agrees to provide the insured individual (or individuals) named on the policy with a certain amount of financial reimbursement after a covered loss.
Feb 12, 2024 · Commercial general liability (CGL) insurance provides a financial safety net in case you’re sued for a bodily injury that occurred at your business, for damaging a visitor’s property, or causing an advertising injury, such as slander, copyright violation, or libel.
Also known as business liability insurance, general liability insurance protects you and your business from “general” claims involving bodily injuries and property damage. Almost every business has a need for general liability insurance.
May 3, 2024 · General liability insurance, also known as commercial general liability, is a type of small business insurance that can help protect businesses from claims of: Bodily injuries. Property damage. Personal injury, like libel or slander. Advertising injury. Copyright infringement. Reputational harm.
