What is the basic limit for each occurrence for BI and PD under the CGL?

The basic limit for each occurrence for Bodily Injury (BI) and Property Damage (PD) under the Commercial General Liability (CGL) policy is indeed $1,000,000. This limit reflects the standard coverage provided by CGL policies, which is designed to protect businesses against claims of injury or damage occurring as a result of their operations, products, or completed work.

The CGL policy offers significant financial protection, and the $1,000,000 limit is set to help ensure that businesses have adequate coverage in the event of a serious claim. Understanding these limits is essential for agents, as it impacts both the level of coverage provided to clients and the potential risks businesses may face uninsured.

This foundational knowledge aids insurance agents in advising clients on proper coverage amounts and ensuring they are adequately protected against potential liabilities.