What does CGL stand for in the context of insurance?

In the context of insurance, CGL stands for Commercial General Liability. This type of insurance provides coverage for businesses against claims of bodily injury or property damage that may arise during normal business operations. It is designed to protect companies from various risks related to their commercial activities, including accidents that occur on their premises or as a result of their operations, products, or services.

Having Commercial General Liability insurance is crucial for businesses as it helps cover legal defense costs, settlements, and judgments for claims made against them. This coverage allows businesses to operate with a level of financial security and peace of mind, knowing that they are protected in case of unforeseen incidents that could otherwise lead to significant financial loss.

Other terms mentioned, such as Corporate General Liability, Comprehensive General Liability, or Common General Liability, do not accurately reflect the standard insurance terminology used to describe this particular coverage in commercial settings. Therefore, the accurate choice in this context is Commercial General Liability.