Commercial Package Policy (CPP) Flashcards

Lists essential information such as the named insured, policy period, business description, and included coverage parts.

Standard provisions that apply to all coverage parts unless modified. Includes cancellation, changes, inspections, premiums, and transfer of rights.

Endorsements that apply to multiple coverage parts to avoid redundancy.

A CPP must include at least two coverage parts (e.g., CGL + Property). Each part has its own declarations and forms.

Two forms are available: Occurrence Form (CG 00 01) and Claims-Made Form (CG 00 02).

Pays for legal liability due to bodily injury or property damage caused by the insured’s operations, products, or premises.

Covers offenses like libel, slander, wrongful eviction, and copyright infringement in advertising.

Pays for medical expenses to third parties injured on the insured’s premises, regardless of fault.

Common exclusions include expected injury, contractual liability, liquor liability, pollution, and professional services.

Covers defense costs, bail bonds, court fees, and lost wages during legal proceedings.