General Business Liability

Question 1

What is comprehensive general liability?

Answer 1

Insures a business against accidents and injury that might happen on its premises, as well as exposures related to its products. It is your last line of defense against claims for things over which you may have little or no control.

Question 2

What are categories of liability insurance?

Answer 2

General liability, specialized liability and workers compensation

Question 3

What are General Liability Insurance forms?

Answer 3

Comprehensive policy: Businesses purchase this insurance to insure their liability exposures.
Commercial Policy: Includes occurrence-based liability policy, and claims-made forms.
Long-Tail Claims: Insurers call claims filed many years after the alleged injury “long-tail claims”.
Tail Coverage: Is also called the extended reporting period.

Question 4

Identify items that would be covered by Employment Practices Liability Insurance.

Answer 4

Employment Practices Liability arises from hiring, terminating, and supervising personnel. The following are some of the reasons employers have been sued: negligent hiring, invasion of privacy, negligent supervision, negligent discharge, and negligent evaluation.

Question 5

Choose the laws that have been enacted to establish a sound foundation of environmental rules and regulations.

Answer 5

Clean Air Act
The Clean Water Act
The Toxic Substances Control Act
Comprehensive Environmental Response and Compensation Liability Act (CERCLA) [commonly referred to as Superfund] and its amendments, including SARA of 1986.