What does CGL stand for in the context of insurance?

CGL stands for Commercial General Liability. This type of insurance is designed to protect businesses from a variety of liability claims that can arise from their operations. It encompasses risks such as bodily injury, property damage, and personal injury that might occur as a result of the insured’s business activities.

Commercial General Liability insurance is essential for businesses as it provides coverage against claims from third parties, covering legal costs and any settlements or judgments that may arise from lawsuits. This protection is vital in ensuring that businesses can operate without the constant fear of potential lawsuits damaging their financial stability.

The other terms mentioned, such as Corporate General Liability and Comprehensive General Liability, do not accurately reflect the standard terminology used in the insurance industry. "Common General Liability" is also not a recognized type of coverage. Thus, Commercial General Liability is the correct term used in this context and reflects the standard coverage that businesses typically need.