. The legal responsibility for the care, custody, or control of another person or thing.
What is the difference between a BOP and a GL policy? A Business Owners Policy (BOP) is a type of insurance policy that offers protection for a business owner against a variety of risks, such as fire, theft, and liability. A BOP typically includes property insurance, liability insurance, and business interruption insurance.
A General Liability (GL) policy is a type of insurance policy that offers protection for a business owner against a variety of risks, such as liability for injuries to others, property damage, and personal injury.
Is commercial general liability the same as general liability?
No, commercial general liability (CGL) is not the same as general liability. CGL is a type of insurance that provides coverage for businesses against liability claims arising from third-party bodily injury or property damage. General liability, on the other hand, is a broader term that can encompass various types of insurance, including CGL.
Why is my insurance company auditing me?
Audits are a normal part of the insurance process and help to ensure that customers are accurately paying their premiums. If an insurance company suspects that a customer is not paying the proper amount, they may initiate an audit. The insurance company will then request documentation from the customer in order to confirm their suspicions.
There are a few reasons why an insurance company might suspect that a customer is not paying the proper amount. For example, if the customer has filed a lot of claims, the insurance company may suspect that they are over-insured and are therefore not paying enough in premiums. Or, if the customer has made a lot of changes to their policy, the insurance company may suspect that they are not accurately reporting their risk.
If the insurance company's suspicions are confirmed, the customer will be asked to pay the difference between what they have paid in premiums and what they should have paid. If the customer does not pay the difference, their policy may be cancelled.
It is important to note that audits are not always initiated because the insurance company suspects fraud. Sometimes, audits are simply a part of the insurance company's normal business operations. For example, some insurance companies audit a certain percentage of their customers every year, regardless of whether or not they suspect fraud.
What is sr22 document?
SR22 is a document filed by an insurance company with the Department of Motor Vehicles (DMV) on behalf of a high-risk driver. The driver is typically required to maintain SR22 insurance for a period of three years. SR22 insurance is more expensive than regular auto insurance, and it may not be available from all insurers. What are the three sections of commercial general liability? The three sections of commercial general liability are bodily injury, property damage, and personal and advertising injury.