In a commercial Package policy interline endorsements Quizlet
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equipment breakdown coverage specifically excludes losses that result from any of the following: Show *ordinance or law - except for the use and operation of electrical supply and emergency generating equipment located on the premises of a hospital Which of the following statements concerning the CPP is NOT correct? A. Almost all commercial risks are eligible for coverage under the CPP. B. A complete CPP includes common policy declarations, common policy conditions, and one or more coverage parts. C. The CPP can only include property coverage. D. The insured can choose a variety of eligible commercial coverages based on his/her needs. Recommended textbook solutions
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Mathematics with Business Applications6th EditionMcGraw-Hill Education 3,760 solutions Business Math17th EditionMary Hansen 3,709 solutions What is a commercial interline endorsement?In standard commercial insurance, an interline endorsement is one that applies across the lines of insurance to all coverage parts. Most often these types of endorsements have to do with general items, such as cancellation or nonrenewal provisions or the effective time of the policy.
What is included in a commercial package policy?A commercial package policy combines two or more coverages like commercial property and commercial general liability, business crime, equipment breakdown, inland marine, and commercial auto liability.
What are the three main parts of the commercial package policy?The commercial package policy (CPP) program was started by the Insurance Services Office (ISO) in 1986. Every policy includes three standard elements: the cover page, common policy conditions, and common declarations (shown in Figure 15.1 "Links between the Holistic Risk Puzzle and Commercial Insurance").
Which of the following would not be included in a commercial package policy?Commercial package policies can't include certain items like workers' compensation or directors-and-officers insurance. Workers' compensation insurance is required by law and must be purchased as a separate policy. Directors-and-officers policies are necessary for non-profit organizations.
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