What is COMMERCIAL GENERAL LIABILITY POLICY?

An INSURANCE contract used by a firm seeking to cover RISK exposures to several LIABILITIES simultaneously, such as those arising from premises, products, contracts, contingencies, environmental damage, and FIDUCIARY breaches. See also COMMERCIAL UMBRELLA POLICY, MULTILINE POLICY, MULTIPLE PERIL PRODUCT.

More On This Topic



Link to This Definition
Did you find this definition of COMMERCIAL GENERAL LIABILITY POLICY helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary