InFocus: Commercial General Liability

Why CGL is an insurance MVP

Why CGL is an insurance MVP

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In a recent article in Entrepreneur, a prominent attorney who specializes in “high-stakes insurance-coverage disputes” ranks the top insurance products necessary to protect start-up businesses.
 
Not surprisingly, commercial general liability (CGL) coverage tops the list.
 
. The fact is that almost every commercial client in Canada requires CGL protection, particularly in today’s business climate.
 
“With all the litigation in Canada and the United States, this coverage has become increasingly in demand,” said Eric Scott, CGL underwriter, Markel Canada. “ Increased claim costs, class action lawsuits and a generally more litigious environment highlights the need for general liability coverage , whether  for a manufacturer, wholesaler, real estate, contractor or any other class of business.”
 
In fact, Scott and many other corporate experts feel that CGL coverage is no longer optional, but should be viewed as a corporate mandate.
 
“CGL is essential to protect an insured against allegations of negligence causing  bodily injury and third party property damages,” Scott said.
 
Markel Canada prides itself on being flexible enough to meet the needs of an array of businesses, which Scott attributes to the organization’s broad appetite. Still, it maintains such target classes as:
  • Sports and leisure – amateur sports teams, athletic facilities, fitness clubs etc.
  • Security Risks – guards, investigation, sprinkler installers etc
  • Camps and daycares, which can be supplemented with abuse protection
  • Machine shops, bicycle vendors and sporting goods stores
  • Blasting, demolition, tunnelling and construction
Brokers should feel encouraged to contact Markel Canada for any client, however.
 
“We’re generally willing to quote on most classes of business, as long as we have no relevant  treaty exclusions,” Scott said. “While we do have our focus target industries, there isn’t much that we’ll decline  simply due to class of business.  Markel is an underwriting company, and each risk is evaluated based on its individual merits .”

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Markel's operation in Canada, formerly known as ESR, has been in existence since 1966 and is highly respected for exceptional expertise and service. Built on a reputation of underwriting excellence and product knowledge, it partners with brokers to provide effective solutions for unique commercial liability needs. Markel Canada operates across Canada with offices in Montreal, Toronto, Calgary and Vancouver.
In October 2009, ESR was purchased by Markel International, a London based specialty property and casualty insurer and reinsurer, and a subsidiary of Markel Corporation, a US-based diverse financial holding company that trades on the New York Stock Exchange. Markel International has eight operating divisions writing business through Markel Syndicate 3000 or through Markel International Insurance Company Limited and Markel Resseguradora do Brasil S.A
The strength and specialist expertise of Markel International further improves the ability to assist brokers in solving their customer's needs, thanks to increased proficiencies, greater capacity and a range of new products.