Assume that a company buys two $10 million layers of liabili…
Assume that a company buys two $10 million layers of liability coverage above the $1m that it carries under its commercial general liability (CGL) policy. Which of the following statements is (are) true? The total amount of liability coverage is $21 million. The cost of the $1m of liability coverage under the CGL policy is the least expensive since it will be the last to pay.