General Liability Insurance
General Liability Insurance typically provides coverage for damages from bodily injury or property damage, where those damages emanate from an accident. Additionally, General Liability Insurance typically covers accidental personal and advertising injuries resulting from things like slander, libel, discrimination (not employment related) or humiliation, false imprisonment, right to privacy violations, copyright infringement and other forms of copying or plagiarism.
General Liability Insurance primarily addresses those damages in three business exposure areas: 1) Operations at your premises; 2) Your products and/or completed operations; and 3) Your advertising, communications and interactive activities.
Alta specializes in covering the exposures of companies in the technology, media, and professional services industries. If you are in a hurry and want to start the quotation process immediately, or speak to an expert, contact us now and we’ll help you get the process started.
Or, read on to learn more first.
General Liability Insurance Covers Three Major Business Activities
1. Covering Operations At Your Premises
The slip-and-fall injury of a visitor to your rented or owned offices is a classic example. Tenants coverage, or fire legal liability, can also be added to cover your liability to your landlord if you end up accidentally causing a fire or other damage to the office that you rent.
2. Covering Your Products and/or Completed Operations
An electrical fire alleged to have been caused by the faulty work of an electrician is an example of the completed operations exposure (for the electrician). And of course products that you sell present a similar exposure. In both instances a General Liability Insurance policy might cover you. As we will note later, manufacturers and some distributors are often subject to a products and completed operations exclusion on their General Liability Insurance policy. Typically these manufacturers and distributors have to purchase this coverage via a Product Liability Insurance policy.
3. Covering Your Advertising, Communications and Interactive Activities
These activities are the ones that tend to generate personal and advertising injuries we spoke of earlier. The frequency of these claims has been increasing rapidly, particularly for technology, media and professional services firms. In particular, intellectual property claims have been driving up losses. As an example, in your advertising copy, you could be sued for inadvertently using copyrighted images or writings without a license or permission. This could occur, for instance, when a subcontractor develops a portion of your website and is in charge of selecting content and media. Insurance companies are excluding this coverage more frequently because of the increasing number of claims. As we will discuss, a Content and Media Liability Insurance policy can be a good solution if you are faced with this sort of exclusion.
Technology, Media and the Service Economy Pose Increasing Challenges
The rapid increase in the use of technology and the growth of the service economy are presenting challenges that are often not met by General Liability Insurance policies. Businesses must be alert in order to avoid unforeseen coverage gaps in their insurance program.
Challenge 1: Professional Services, Intangible Property, and Economic Damages
Solution: Errors and Omissions Insurance
Challenge 2: Personal and Advertising Injury Exclusion
General Liability Insurance companies often will not issue policies with personal and advertising injury coverage to those in the media business, or those who are perceived to have significant media-related exposures.
Solution: Content and Media Liability Insurance
Content and Media Liability Insurance policies are specifically designed for those who were unable to obtain personal and advertising injury coverage under the General Liability Insurance policy. The policies generally pick up a lot of what is lost with the General Liability Insurance exclusion, and sometimes provide a lot of additional coverage as well.
Some (a minority) of insurance companies may allow you to buy back contingent BI/PD/PI coverage by endorsement.
Challenge: Products and Completed Operations Exclusion
This challenge has existed for several decades and is nothing new. As society became more litigious, product liability lawsuits escalated dramatically. As a result, preferred and standard market General Liability Insurance companies began excluding products and completed operations for manufacturers and some distributors. In response, special underwriters arose who wrote product liability insurance.
Solution: Product Liability Insurance
Product Liability Insurance companies specialize in this area. As a result, they are able to carefully underwrite risks with significant exposure. Preferred General Liability Insurance carriers and generalists don’t have the systems in place to adequately underwrite risks with significant exposures in this area.
Alta is not an insurance company, nor do we own an insurance company. And we do not just represent a single insurance company. So, the way we serve you is to actually find you the lowest priced policy. We don’t do this by telling you about the lowest priced policy we ever wrote. Instead, as an independent insurance broker, Alta makes the insurance companies compete for your business. We can get you multiple quotes from competing insurers. If you like having companies compete for your business you’ll love Alta.
Multiple General Liability Insurance Quotes
Eric J. Weibel, President of Alta, is a Registered Professional Liability Underwriter (RPLU), and would be happy to help you.
Give us a call or send us an email so we can determine the best insurance application for you. Sometimes we can just do the application over the phone.
If you’ve already gotten a quote from somebody else that was more than you thought it would be, or if you just want to get more coverage and pricing options, you can usually send us the application you already filled out.
Once you return the completed application to us, we’ll then send it out to multiple insurance companies who will all compete for your business. After the quotes come in we can help you compare quotes, coverage, and the insurance companies and select the proposal you like the best.
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