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The Most Basic CGL Concept – It’s Found on the First Page
Total Credits: 1 including 1 CE Credit
- Average Rating:
- 7
- Categories:
- Big “I” Virtual University | Commercial Lines | Commercial Lines - Basic
- Speaker:
- Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS
- Course Levels:
- All Levels
- Duration:
- 1 Hour
- License:
- Product Setting: Expires 30 day(s) after program date.
Description
Coverage provided by the CGL can never be any broader than the grant of coverage in the insuring agreement. If the injury or damage isn’t contemplated in the insuring agreement, there is no need to go any further. These truths are revealed by digging into the depths of the CGL’s Insuring Agreement – often overlooked by agents.
This session begins by defining six key terms found in the CGL’s insuring agreement:
- Bodily injury
- Property damage
- Suit
- Employee
- Coverage territory
- Occurrence
We discover that each of these defined terms in some way limit the breadth of the CGL.
In this section of the course, we discover 10 specific CGL coverage limitations found within the insuring agreement and delve briefly into insured status.
The final section of this class digs into the concept of “legal liability.” The CGL insuring agreement states that the policy responds only when the insured is “…legally obligated to pay….” We answer the question, what creates legal liability?
What we learn is that everything within the coverage provided by the CGL begins with the insuring agreement, so THAT is the most basic but also most important concept within general liability.
Basic Course Information
Learning Objectives- Learn The Most Basic CGL Coverage Concept
- Understand Coverage Limitations in the CGL’s Insuring Agreement
- Discuss The CGL Actually Requires Legal Liability
Course Materials
| IMPORTANT_CE Credit Instructions_Read Before Webcast_Updated (752.6 KB) | Available after Purchase | ||
| The Most Basic CGL Concept – It’s Found on the First Page Outline (17.5 KB) | Available after Purchase | ||
| The Most Basic CGL Concept – It’s Found on the First Page Handout (652.2 KB) | Available after Purchase | ||
Speaker
Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS Related Seminars and Products
Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS, joined the insurance industry in 1990. He is the Executive Director of the Independent Insurance Agents and Brokers of America (Big "I") Virtual University. His current duties involve researching, writing, and teaching property and casualty insurance coverages and concepts to Big "I" members and others in the insurance industry.
During his career, Boggs has authored more than 300 insurance and risk management-related articles on a wide range of topics as diverse as Credit Default Swaps, the MCS-90, and enterprise risk management. In addition to this, Boggs has written 13 insurance and risk management books:
- "The Insurance Professional's Practical Guide to Workers' Compensation: From History through Audit," now in its second edition;
- "Business Income Insurance Demystified: The Simplified Guide to Time Element Coverages," now in its third edition;
- "Property and Casualty Insurance Concepts Simplified: The Ultimate 'How to' Insurance Guide for Agents, Brokers, Underwriters and Adjusters;"
- "Wow! I Never Knew That! 12 of the Most Misunderstood and Misused P&C Coverages, Concepts and Exclusions;"
- "Insurance, Risk & Risk Management! The Insurance Professional's Guide to Risk Management and Insurance;"
- "Workers' Compensation: How You Can Effectively Answer Your Clients 12 Most Commonly Asked Questions;"
- "Glossary of Insurance Terms;"
- "Choosing the Best Risk Financing Option;"
- "Writing Property and Liability Coverage for Condos;"
- "The Truth about Enterprise Risk Management;"
- "The Experience Mod Worksheet;"
- "What has ISO Done to us Now?" and
- "Cancellations, Non-Renewals & Conditional Renewals: THE Insurance Professional's Guide to Statutory Insurance Carrier Notification Requirements for All 50 States!"
Boggs is a regular speaker at industry events, speaking for groups such as the National Association of Mutual Insurance Companies (NAMIC), the National Society of Insurance Premium Auditors (NSIPA), the American Association of Managing General Agents (AAMGA), the Institute of Work Comp Professionals (IWCP), and the CPCU Society.
A graduate of Liberty University with a bachelor's degree in Journalism, Boggs' background includes work as a risk management consultant, loss control representative, producer, claims manager, and quality assurance specialist
Dates
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Mon, Dec 30, 2024 - 03:00pm to 04:05pm CST
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