Category: commercial package policy

 COMMON POLICY CONDITIONS The common policy conditions apply to all of the coverage parts contained in the CPP. Under the common policy conditions, certain responsibilities and obligations are assigned to the first named insured—the person whose name is listed first in the declarations. It is necessary to specify the first named insured because the CPP…

   COMMON POLICY DECLARATIONS Although we’ll discuss the individual coverage parts of the CPP in subsequent article, in this article we’ll review the two general forms that are a part of every CPP and are also included in any monoline policy issued using CPP forms: the common policy declarations and the common policy conditions. The…

The Commercial Package Policy  1. INT RODUCTION In this article, we’ll discuss insurance policies designed for businesses. Because businesses share many of the same exposures to risks as individuals do, you will find many similarities between personal and commercial forms. Businesses also have many unique exposures that require different policies or modifications to the coverages…