General Liability (GL) Insurance
General Liability Insurance is a type of business insurance that provides financial protection against claims from third parties for bodily injury, property damage, and advertising-related harm. It covers legal expenses, medical costs, and settlements and is essential to ensure that businesses can handle unexpected incidents without facing devastating financial losses. Often referred to as Commercial General Liability (CGL) insurance. In some jurisdictions, such as Australia and the UK, the comparable insurance is called Public Liability insurance.
Related terms: liability, occurrence-based.
Learn more, read the article: General Liability Insurance Explained