Land Surveyors Commercial General Liability Insurance

Despite your best intentions, accidents happen and if the accident is a result of something your business has done, then a client, contractor, or member of the public can claim against your business for compensation. Your third party liability can be triggered by something as simple as spilling a drink over a client’s computer, or a client slipping on a wet surface in your office incurring injury or damage. Commercial General Liability insurance will provide coverage for these types of losses.

What are the potential exposures for Commercial General Liability?

• Bodily injury, property damage, personal injury (libel or slander), advertising injury that your company or one of your employees causes to a client, contractor or member of the public as a result of your business operations or premises.
• Anyone working for you could trigger a Commercial General Liability claim against your business if his/her actions at work injure a client or member of the public.

What coverages are provided with a Commercial General Liability Insurance policy?

• Protection for your company against lawsuits from third parties for bodily injury, property damage caused by your business products or operations
• Compensation for an injury when your business is at fault
• Coverage includes incidents that may occur on your premises or at other locations covered by your policy where you normally conduct business.
• In the event of a covered claim, the insurance company pays the cost of the claim, damages, legal fees and settlements up to the limits of the policy and within the definitions of the policy.

Commercial General Liability Insurance Coverages:

• General Aggregate ($5,000,000)
• Each Occurrence ($1,000,000 or limit purchased)
• Products – Completed Operations Aggregate ($1,000,000 or limit purchased)
• Personal and Advertising Injury ($1,000,000 or limit purchased)
• Tenant’s Legal Liability ($1,000,000 or limit purchased)
• Condominium Special Assessment ($1,000,000)
• Medical Payments ($10,000 per person)
• Non-Owned Automobile – SPF No. 6 (Includes SEF 96 and SEF 99)
• SEF 94 – Legal Liability for Damage to Hired Automobiles ($50,000)
• Employee Benefits Liability ($1,000,000)
• Broad Form Completed Operations (Included)

Property Coverages (can be included with Commercial General Liability Policy):

• Property of Every Description Coverage (Included in Commercial Package):
• Broad Form Coverage
• Business Contents (Office Equipment and Furniture)
• Business Income
• Equipment Breakdown
• Contractor’s Equipment (Surveying Equipment)
• Valuable Papers ($50,000)
• Extra Expense ($50,000)

Why is Professional Liability excluded from Commercial General Liability Insurance policies?

• Commercial General Liability insurance policies do not cover Professional Liability (also known as Errors & Omissions).  A Commercial General Liability insurance policy focuses on bodily injury and/or property damage and specifically excludes Professional Liability. For this reason, Professional Liability insurance is important for any business or professional that could make an error in professional service that leads to a financial loss. It insures the business owners’ mistakes as well as those made by employees and subcontractors.
• When a business and/or professional are hired, they are expected to have the knowledge, experience and training to perform to the standard of their profession. If they fail to perform, they can be held responsible for harm caused. The Professional Liability insurance policy protects the insured against financial losses from lawsuits filed by their clients against them. It covers the legal defense as well as the settlement.

Commercial General Liability insurance coverage protects your business property against loss or damages caused by policy specified perils such as theft, fire, windstorms, and explosions.  This coverage may be compulsory if you lease or rent your premises (please check in your lease agreement or with your landlord).

If you run a home-based business, your homeowner’s policy will not cover you for damages to your business assets.  Many homeowners’ policies also require that you have a commercial insurance policy if you are running a business from your home.

To help protect your business in Alberta, British Columbia, Nova Scotia and New Brunswick, Pirbright Professions Inc. can provide small businesses with Commercial General Liability insurance as a stand-alone policy or including property coverage.  Alternatively, other lines of coverage are available, such as Professional Liability or Errors & Omissions coverage, Directors & Officers Liability and Cyber Liability Insurance coverage.  All companies have potential exposures in all of these areas.

Should you have any queries or require any further information, please contact us.