Commercial Package Policy

Front 1

Commercial package policy

Back 1

Begins with property and general liability and then other forms of insurance are created

Front 2

Why are CPPs beneficial to both parties

Back 2

Clearer policy information and lower premiums

Front 3

CPPs include

Back 3

Declarations, policy conditions and two or more coverage posts (property or casualty)

Front 4

CPPs do not include

Back 4

Life insurance, health or disability insurance, professional liability or workers comp

Front 5

Interline Endorsements

Back 5

Can be used with more than one line of insurance

Front 6

CPP declaration’s include

Back 6

Name and address of insured, policy proof, description of business, forms purchased and their premiums

Front 7

In the conditions, all responsibilities are sent to

Back 7

The first named insured

Front 8

Cancellation of CPP

Back 8

Done in writing by both parties under pro rata refund back to the first named insured

Front 9

Change conditions

Back 9

Only first named insured can makes changes with insurer approval by amendments, endorsements or waivers

Front 10

Premiums condition

Back 10

States the first named insured pays all premiums and recieves all returns

Front 11

Examination of books and records

Back 11

Insurer has rights to review set any time for accuracy in testing and calculating charges up to 3 years past policy end

Front 12

Inspection and surveys conditions

Back 12

Right to inspect at any time regarding insurability and make recommendations

Front 13

Assignment clause

Back 13

Also right and duties which state that first named cannot be changed without insurers permission or death.