Unit 10 Commercial Package Policy

Question 1

Common policy declarations

Answer 1

Who is insured, when the coverage is in effect, and for what lines (property or casualty)

Question 2

Common policy conditions

Answer 2

Apples to all of the coverage parts contained in the CPP

Question 3

Cancellation

Answer 3

Condition sets forth the circumstances under which the policy may be canceled.
Notices to first named insured.
Premium refund to first named insured.
Request from first names insured.

Question 4

Examination of your books and records

Answer 4

States that the company may examine and audit the insureds books and records at any time during the policy period and for up to 3 years after the end of the policy period.