Which of the following best describes a 'CGL policy'?

A Commercial General Liability (CGL) policy is specifically designed to provide liability coverage for businesses in relation to their operations and products. This means it covers bodily injury and property damage that may occur as a result of the business's activities or products. For instance, if a customer is injured due to a defective product sold by the business, the CGL policy would typically cover legal fees and any damages awarded.

The focus of the CGL policy on products and operations is crucial for businesses, as it safeguards them against major liability risks that could significantly affect their financial stability. This creates a layer of protection for entrepreneurs and business owners, allowing them to operate with peace of mind knowing they have coverage for certain liabilities inherent in their business activities.

Other options, such as coverage for personal vehicle liability or professional errors, relate to different types of insurance policies. Employee theft is covered under fidelity bonds or specialized crime insurance, not a CGL policy. Thus, the distinction of the CGL policy revolves primarily around its comprehensive coverage tailored for business operational risks and product liabilities.