How Does General Liability Insurance Work In Canada?
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Perhaps you’re expanding your business, launching a new bricks & mortar location and wondering “How does general liability insurance work in Canada?” Or maybe you are looking to start-up a new cannabis business. Whatever your new or growth plans entail, understanding “How does general liability insurance work in Canada?” is a foundational part of any business plan.
Related Matters: Insurance Bureau of Canada: Business Insurance And You
General liability is also known as commercial general liability insurance (CGL). General liability insurance in Canada is specifically designed to provide your business operations with protection against claims of bodily injury and property damage as they relate to your business operations, products, premises, completed operations as well as personal injury and advertising and personal injury liability.
General liability can help respond to everyday situations that you will face when operating a business in Canada such as:
- Someone who is perusing your bricks & mortar store, slips on a wet floor and breaks their leg.
- Workers accidentally damage the building next door to the one that they’ve been hired to renovate.
- A leaky toilet fixed by a plumber you hired results in damage to a business operating below yours.
Want To Know How Does General Liability Insurance Work In Canada? Read on…
When investigating coverage options for your Canadian business, you should be aware that general liability insurance is:
- Broad in scope
- Designed to cover slip and falls, product liability issues, accidental damage by a business tenant to a leased location, etc.,
- Specifically designed to cover bodily injury or property damage caused to third parties
- Known to exclude liability for financial losses associated with services provided to clients for a fee (aka professional services)
Meanwhile, Errors & omissions insurance – aka E&O or professional indemnity, works to cover organizations and individuals from liability for alleged financial loses their clients could bring against them based on advice &/or services they provided or didn’t provide to clients who have paid them for their advice &/or services. Bodily injury or property damage resulting from professional services performed are mostly excluded – with the exception of a few professions such as engineers and architects.
General Liability Insurance Work In Canada – How To Get A Quote
From coast-to-coast-to-coast, ALIGNED insurance brokers know how to find general liability insurance options for your business. To get a quote, you’ll need to complete a business interruption worksheet and a statement of values.
For More Information Regarding How Does General Liability Insurance Work In Canada? Or To Get General Liability Insurance For My Business In Canada Connect With One Of Our Canadian Insurance Brokers Today at 1-866-287-0448
|ALIGNED Across Canada 100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves nearly 1,400 clients across the country. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. Uniquely within the industry, ALIGNED creates, negotiates and delivers the best business insurance and risk management strategies/solutions to organizations like yours.|
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