Settling Claims on Your Own Risks Voiding Your Policy
| posted in BlogWhile your insurer has the responsibility to investigate and pay claims made on your firm’s commercial general liability policy, you also have responsibilities to ensure your claim is paid. Two of the key parts of your responsibilities are: • Notifying your insurer of the claim as soon as possible. • Not taking the claim into your own hands before notifying the insurer. Commercial general liability (CGL) coverage is usually written on an occurrence basis, meaning that the policy will cover events that occur during the period the policy is in force. In other words, if an occurrence hits towards the…
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