Commercial propert - Study guides, Class notes & Summaries

First named insureds rights and duties - 1. Authorized to cancel 2. Receive notice of cancellatoon 3. Make changes with insurer consent 4. Responsible for payment of all premoums 5. Payee for return premoums Common policy dec info - 1. Eff date 2. Named insured 3. Description of premises 4. Coverages provided (building, bpp, business income; limit of insurance; covered causes of loss-by item; coinsurance, rates)

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CIC- COMMERCIAL PROPERTY EXAM QUESTIONS WITH COMPLETE ANSWERS What are the types of property not covered - Answer-1. Some excluded because it is customarily insured under another policy 2. Some excluded because it is relatively unsusceptible to loss 3. Some excluded because it's susceptible to loss 4. Exceptions made for certain types of property held for sale by named insured 5. Restricted coverage for certain types of property Additional covered property endorsement - Answer-Exp...

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