What Is In A CPP Policy?
A Commercial Property Policy is flexible because it consists of several basic parts or forms: • Declarations Forms – these tell you who is covered, the amount of insurance, the type of coverages written and other information about the business and other identifying details. • Conditions Forms – these documents contain sets of conditions that control how the policy operates such as the customer’s duties when a loss occurs, the method used for settling a loss or what steps to take when the customer and the insurer disagree over the amount of a loss. • Coverage Forms – which include descriptions of the type of property that is covered or excluded and it explains items such as coverages, insurance limits, definitions, deductibles and other important provisions. • Causes of Loss Forms – as you might expect, these forms describe the causes of loss (perils) that are insured against and any exclusions. • Policy Cover or Jacket – which is, literally, a cover designed by the company providing th
