Commercial Package Policy (CPP) Flashcards

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Common Policy Declarations

Back

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

Front

Common Policy Conditions

Back

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

Front

Interline Endorsements

Back

Endorsements that apply to multiple coverage parts to avoid redundancy.

Front

One or More Coverage Parts

Back

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

Front

Commercial General Liability (CGL) Coverage Forms

Back

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

Front

Bodily Injury and Property Damage Liability

Back

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

Front

Personal and Advertising Injury Liability

Back

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

Front

Medical Payments

Back

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

Front

Exclusions in CGL

Back

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

Front

Supplementary Payments

Back

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