Commercial General Liability Insurance
Protecting your assets is critical to the success of your business. Liability risks can arise from a variety of sources, including customer and vendor slips and falls on your premises, complicated contractual obligations that leave your business exposed, product defects and so on. Commercial General Liability (CGL) insurance helps protect your business against these and other risks.
Reviewing Your Liability Limits
When purchasing a Commercial General Liability policy, it’s important to select the right limits. This where we come in. Baldon Group will work with you to determine the assets you have at risk and the proper limit amounts you should carry. Typically, the cost of a policy is based on the type of work you perform and your receipts and total payroll expenses.
Depending on your operations, you may also need additional liability coverage. For example, the hospitality industry should also have Liquor Liability coverage as part of its insurance program. Restaurants need to make sure they are covered for foodborne illnesses and food contamination. A general contractor who manages the design-build of
a project should purchase Contractor’s Professional Liability coverage
as the exposures involving professional services are not covered under
a General Liability policy. We will review in detail what you need to be risk-ready.
Mitigating Risk
We will also work with you to identify potential loss exposures and implement strategies to reduce the frequency and severity of loss. In addition, our staff will benchmark your insurance programs against key elements (limits, deductibles, retentions, rates, and premiums) to ensure that you are effectively managing your risk.