Liability Insurance Alberta
COMPREHESIVE LIABILITY INSURANCE FOR YOUR BUSINESS.
The only way to effectively protect the assets of your business is to carry adequate Commercial General Liability (CGL) Insurance coverage. Liability insurance protects business against claims for:
- Physical injuries that occur in your offices to customers, employees or visitors.
- Physical injuries that occur anywhere outside your offices because of an employee or a product/service you sell.
- Damage to someone else’s property by your employee.
Even if you are running a home-based business, you need commercial liability insurance since your home insurance will likely not cover your business operations. For example, if a customer visits your home and slips, your liability insurance would be the one to respond.
What Does CGL Cover?
A typical CGL policy provides coverage for claims of bodily injury or other physical injury, personal injury (libel or slander), advertising injury and property damage as a result of your products, premises or operations, and can be offered as a package policy with other coverages such as Property, Crime, Automobile, etc. As a safeguard against liability, CGL enables you to continue your normal operations while dealing with real or fraudulent claims of negligence or wrongdoing. CGL policies also provide coverage for the cost to defend and settle claims.
What CGL Insurance Covers
When building a CGL policy the following coverages are available:
- Automatic Additional Insured
- Personal and Advertising Injury
- Defence Costs
- Medical Expenses
- Occupiers and Operations Liability
- Products Liability
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Types of Liability Insurance:
- Commercial Liability
- Errors & Omissions
- Pollution Liability
- Equipment Breakdown Liability
- Directors & Officers
- Employer’s Practices Liability
- O&G Operator’s Extra Expense
- Contractor Equipment
- Warehouse Legal Liability
- Cargo Insurance
How much CGL coverage will you require?
The amount of coverage that your business needs depends on three factors: perceived risk, where you operate your business and the type of products you manufacture.
Perceived Risk: Consider the amount of risk associated with your business operations and functions. For instance, if you manufacture heavy machinery, you would generally need more coverage than another organization that manufactures stuffed animals.
- Premises and Operations Liability: If you operate in a province or area that has a reputation for rewarding high damages, then you may wish to purchase higher limits of liability.
Type of Product Manufactured: If you manufacture a dangerous product, you may want to carry higher limits of liability.
Insurace Tip: You can purchase an Umbrella Liability policy to help achieve the desired limit of liability.
What our customers are saying after they took action on their Commercial General Liability insurance …
“Staff were very helpful and efficient getting all the paperwork and policies swapped over! They helped us save a considerable amount on our insurance policies. Will certainly be recommending them to friends and family.”
Thank you so much Action for the outstanding service. I was totally lost about my insurance needs for my consulting company and you really came through. I will highly recommend you to my colleagues.