What is the per occurrence limit of BB Mart's Commercial General Liability policy after the claim is settled?

In a Commercial General Liability (CGL) policy, the per occurrence limit refers to the maximum amount that the insurer will pay for a single claim or incident. In this case, if the settled claim has a per occurrence limit of $300,000, it means that for each individual claim, the insurance policy will cover losses up to that specific amount.

If BB Mart's policy indeed has a per occurrence limit set at $300,000, this aligns with the operational principles of CGL policies, which often outline specific limits of liability for claims resulting from bodily injury, property damage, personal injury, or advertising injury.

When multiple claims or incidents occur, each is evaluated against the per occurrence limit individually. Therefore, it is crucial for businesses to understand both the per occurrence limit and the aggregate limit of their insurance policy to ensure adequate coverage for potential claims. In this scenario, recognizing that the answer is $300,000 signifies an understanding of the policy’s capacity to manage risk for individual incidents effectively.