PC Chapter 8

Question 1

Cancellation

Answer 1

termination of an insurance contract during the policy period. either the insurance company or the insured may effect cancellation

Question 2

Commercial Package Policy

Answer 2

A commercial package policy offers a variety of coverages under one policy. purchasing any two of the following coverages or more would consitiute a commercial package policy, commercial property, commercial liability, commercial crime, commercial automobile, inland marine, equipment breakdown and farm

Question 3

Common Policy Conditions

Answer 3

conditions which apply to all coverage sections of the commercial package policy

Question 4

Common Policy Declarations

Answer 4

the common dec page for the commercial package policy.. works musth like a table of content

Question 5

Mono line Policy

Answer 5

any segment or module of a commercial package policy purchased as a stand alone policy

Question 6

Package Policy

Answer 6

insurance policies that offer several converges within a single contract