Commercial Insurance Policies
Usually broken up into various lines of business such as property, crime, inland marine, liability or farm
Insurance Services Office
ISO - Advisory organization that advise companies and create standards, forms, and policies (helps with courts)
Covers only one line of business (property)
Includes two or more lines of business
Who developed the commercial package policy?
Commercial Package Policy
Common Policy Declaration and Common Policy Conditions are part of a...
Policy number, insurance company name, and producer name are on...
Info on the insured, effective date and expiration date, premium for each component, and total premium are on...
When insurer is not required to prove that insured received a notice, it only needs to be mailed to address on policy is under what policy conditions
Prepaid premiums get returned when under what policy conditions
Insured can drop at any time by written notice (sometimes by phone) under what policy conditions