Frequently Asked Questions

What is the Difference Between Occurrence and Claims-Made Insurance?

A Commercial General Liability policy can be sold on either an Occurrence or Claims-Made basis. The limitations of the two types differ depending upon when an incident occurs and when a claim is filed.

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What is the Difference Between Excess and Umbrella Insurance?

Excess liability simply provides additional limits to an underlying policy whereas Umbrella liability also expands coverage to include claims and losses outside its initial scope.

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What is an Additional Insured Endorsement?

An additional insured endorsement is a type of addendum made to a CGL policy which extends coverage of the policyholder to the named insured.

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What is Commercial General Liability?

A CGL policy is purchased to protect a business from loss associated with Bodily Injury, Property Damage, and Personal or Advertising Injury claims that are considered to be results of non-professional negligence.

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How can I get a notice of cancellation on a COI?

The best option for Certificate Holders is to obtain a Notice of Cancellation Endorsement from the vendor’s insurer(s) specifically scheduling the Certificate Holder.

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How do I review a certificate of insurance?

When reviewing certificates of insurance, pay close attention to the following: waivers of subrogation, notice of cancellation endorsements, coverage deficiencies, coverages not available in today’s market, and types and forms of additional insured, primary and noncontributory wordings.

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What is a waiver of subrogation and why do I need it?

A waiver of subrogation is a contractual provision that indemnifies third-party subcontractors from liability, effectively revoking an insurer's right to recoup losses from a claim concerning third-party fault for incurred damages.

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