General Liability Insurance Texas

General Liability Insurance in Texas

Another important insurance offered by PNC Insurance is the General Liability Insurance (GLI). It is also called Commercial General Liability (CGL). The General Liability Insurance covers losses your business incurs if a third person or a party sues it for bodily harm or physical injury. Whether you run a medium sized operation or a large scale industrial setup, General Liability Insurance is crucial for your business. Otherwise, liability claims drawn by third-party persons or organizations upon your business can ruin your standing. Large liability claims can even lead to termination of your business operation and eventual shutting down of your business.

General Liability Insurance deals with claims related to bodily harm or injury to a third party such as a customer, a partner, a bystander. It also covers claims related to damage caused to a third party’s property. Additionally, General Liability Insurance also deals with reputational harm i.e. damage caused to third party’s reputation and advertising injury. GLI insurance policy offered by PNC Insurance covers costs like legal fees, evidence costs, witness fees, and judgement/settlement costs and fees

Though GLI is not required by law, most businesses opt for it. This is because they do not possess the additional resources to bear the expense of handling and/or resolving a heavy claim made by a third party. Also, in many industries, organizations do not like to partner or collaborate with other organization who do not have General Liability Insurance; if one organization goes out of business, the ripple-effect damage could harm all its partners and stakeholders. It is important to note that GLI does not apply to certain scenarios. These include your employees’ or workers’ injuries or illnesses and damage caused to your own business operations and property. Both these scenarios are covered by other types of insurance policies.