Which of the following persons is NOT covered under a CGL policy?

A Commercial General Liability (CGL) policy is designed to protect businesses from various liabilities, but certain individuals may not be covered under its provisions. In this context, shareholders are not typically regarded as insureds under a CGL policy because the coverage is primarily aimed at protecting the business entity and its operation rather than its individual owners or shareholders.

Shareholders do not engage in the day-to-day operations of the business and therefore are not exposed to the same kinds of risks for which the CGL provides coverage, such as bodily injury or property damage resulting from the business's activities. In contrast, employees are covered because they work for the company, independent contractors are often covered when they are working on behalf of the business, and sole proprietors are generally included as insureds because they are running the business and are directly involved in its operations.

Thus, understanding the distinction in coverage helps clarify why shareholders do not fall under the protective umbrella of a CGL policy.