unit10 Flashcards
what is CPP
commercial package policy allows businesses to combine coverage for multiple risk in one place
coverage forms
when a policy if included in the Cpp the name of the coverage changes from
a policy to a form
what must the CPP include to be called a package policy
at least two coverage parts (property or casualty)
interline endorsement
endorsements that may be used with more than one line of insurance
4 keys to CPP
common policy declarations
common policy conditions
two or more coverage parts
one property/ one casualty
what is contained in the common policy declarations
who is insured
when the coverage is in effect
and for what lines (property or casualty)
CPP common conditions
first named insured
acts on behalf of all insured
transfer of your rights and duties under this policy a.k.a.
assignment clause. insured’s right’s and duties under the policy can’t be transferred without the written consent of the insurance company except in death
what two forms are always included in the CPP
common policy conditions and
common policy declarations
general and farm liability, and crime are what type of forms
commercial casualty coverage forms
commercial auto, property, and crime coverage are eligible for what
commercial package policy (CPP)
commercial aviation coverage isn’t eligible for CPP
is dwelling property coverage eligible to be written as part of a CCP
no because it is a personal lines policy
where are the responsibilities and obligations of the first-named insured
common policy conditions
what is found in the common policy declarations
- policy period
- a description of the covered business
- the name and mailing address of the named insured
