Insure Multiple Events with our Annual Commercial General Liability Insurance Policy

What Is Commercial General Liability (CGL) Insurance

Commercial general liability (CGL) is a type of Insurance Policy that provides annual coverage to a business for bodily injury, personal injury, and property damage caused by the business’s operations, products, or injuries that occur on the business premises. Commercial General Liability is considered comprehensive business insurance and comes with additional coverages as well.

CGL Insurance is vital for your business. This policy protects against various claims that could result in severe financial losses. For instance, if your staff serves alcoholic drinks to an underage, you could face liability claims. 

Much like with restaurants the foods you serve at the venue could cause trouble if they make some guests sick. In short, a wedding venue business comes with many liabilities that requires you to be covered from. Avoid financial losses by getting wedding venue liability insurance now.

Why is it necessary for Event Companies, Wedding Planners, Exhibition Companies, to take an annual Commercial General Liability (CGL) Insurance Policy?

Events mean high volumes of people and property - but an equally high volume of fun and excitement. In order to offer the most carefree and playful experience as possible, make sure that your venue is ready for action when trouble strikes.

Event Venues have hundreds to thousands of people attending events and passing through their doors every year, depending on their size and the types and scale of events that take place.

Every time there is an event at the venue tons of Electronic equipment, Venue and Stage gear comes in and out of each venue - not to mention thousands of spectators and countless performers - the level of exposure that these types of businesses must mitigate is through the roof.

Simple mistakes could result in severe financial losses that put your business at risk. The good news is that the CGL insurance Policy protects against a wide range of incidents. 

For example, this policy would cover the losses that may arise when an intoxicated guest accidentally falls on another person's expensive items and damages them. 

Also, most wedding venue will also have bars to serve guests with alcoholic drinks and beverages. By doing this, extra income will be generated. If your wedding venue have a bar, to hold liquor liability insurance (or a general liability insurance policy that includes liquor liability) and make sure you work with Insured Bartenders

Some policies limit you in certain ways: for example, it may dictate the number of attendees you must not exceed for the policy to be valid. No matter what types of events regularly unfold at your venue, We can help you understand your options and build out a policy that protects you from all angles.

WHAT DOES COMMERCIAL GENERAL LIABILITY INSURANCE POLICY COVER?

As an event host, you are responsible for the safety of your attendees, your staff and crew, as well as your owned and rented assets. Here are the most common elements taken into account by venue insurance.

a.   INJURY TO INDIVIDUALS, PUBLIC OR PORPERTY DAMAGE BELONGING TO THIRD PARTY - This policy covers legal liability to Third Party ( Injury and property damage to participants, audience, including liability to crew, vendors, suppliers, owner / owners of property which the insured would lease or take on hire, performers, artist, musicians, exhibitors, sponsors, artist performing acrobatics and stunts and / or ticket holders and / or invitees at start or during the event )

b.   ERROR AND OMMISION – Errors and omissions insurance (E&O Insurance) or Professional Liability, Professional Indemnity(PI) insurance is a particular type of professional liability insurance policy that has been designed to protect individuals or companies and their workers against claims made by clients for negligent actions or inadequate work.

 c.  LEGAL DEFENCE COST – The company will pay all costs, fees and expenses incurred with their prior consent in the investigation, defense or settlement of any claim made against the insured and the costs of representation at any inquest inquiry or other proceedings in respect of matters which have a direct relevance to any claim made or which might be made against the insured, provided such claim or claims are the subject of indemnity by the policy whether liability ultimately attaches to the policy or not. Such costs, fees and expenses are called defense costs.

d.  LEGAL LIABILITY - Legal Liability of the Insured for loss / damage to property of residents / bonafide guests valuables whilst they are under Care, Control & Custody of the Insured in the premises

 e.  FOOD, BEVERAGES & OUTSIDE CATERING EXTENSION -

 f.    LIQUOR LIABILITY

 g.  A CERTAIN AMOUNT TOWARDS MEDICAL EXPENSES: - to avoid or reduce future liability would be payable by establishing a legal liability, subject to approval by the insurance company.

 h.  CROSS LIABILITIES – Cross-liability coverage is a clause in a commercial insurance contract. When an insurance contract covers multiple parties, cross-liability provides coverage for both parties if one makes a claim against the other. (other than the named insured) subject to Company’s total liability not exceeding the limits of indemnity stated in schedule of the policy

 i.    ACT OF GOD PERIL EXTENSIONS: - includes Storm, Tempest, Flood and inundation, Subsidence, Rockslide, Landslide, Earthquake, tsunami and other natural calamities which are beyond the control of humans.

 j.     Terrorism Legal Liability extension

k.  Transportation Liability - for own, or hired Vehicle / Accidents caused by Motor Vehicle. First the car owner will have to use his Vehicle Insurance if there is an excess payment to be made.

 l.    Valet Parking, Car Parking, etc. - Valet parking insurance can offer the following coverage: General liability – covering injury to a person and damage to a property caused by a valet attendant. Garage keeper's liability – covering damage to any vehicle left in the valet's care. This includes collision and theft.

m. Waiver of Subrogation wherever required under Contract. Cancelled - A waiver of subrogation prevents an insurer from seeking recovery from a third party for damages paid. A waiver of subrogation clause provides additional protection for clients in most industries.

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Khushroo Kekobad M - +919967066845 [email protected]