IMch09 - CHAPTER 9 Risk Management and Commercial...

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CHAPTER 9 Risk Management and Commercial Property—Part I THE COMMERCIAL PACKAGE POLICY (CPP) Building and Personal Property Coverage Form (BPP) Buildings Your Business Personal Property Personal Property of Others Extensions of Coverage Scheduled versus Blanket Coverage Common Clauses in the BPP Insured Perils Debris Removal Endorsements Used with the BPP BOILER AND MACHINERY INSURANCE Special Characteristics Insuring Agreements Loss to Property Expediting Expenses Optional Endorsements Business Income Insurance Extra Expense Consequential Damage BUSINESS OWNERS’ PROGRAM Property Forms Used Recovery Basis OTHER COMMERCIAL PROPERTY FORMS Difference in Conditions Insurance (DIC) Builder’s Risk REPORTING FORMS CONSEQUENTIAL LOSS COVERAGE TIME-ELEMENT CONTRACTS Business Income Insurance Basic Characteristics Business Income Loss Coinsurance How Much Insurance to Carry? Insurance-to-Value Requirements Maximum Period of Indemnity Monthly Limit of Indemnity Agreed Amount Clause Contingent Business Income Extra Expense Insurance CONTRACTS WITHOUT TIME ELEMENT Manufacturers Selling Price Accounts Receivable Insurance Rain or Event Insurance 1
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Hospital Disaster Risk Management KEY TERMS AND CONCEPTS Accounts receivable insurance Agreed amount clause Automatic coverage Basic form Blanket coverage Boiler and machinery insurance Broad form Building and personal property coverage form (BPP) Business income insurance Commercial Package Policy (CPP) Consequential damage endorsement Consequential losses Contingent business income insurance Contracts without time element Expediting expenses Extended-period-of- indemnity endorsement Extra expense insurance Insurable value Manufacturers selling price Rain insurance Reporting forms Scheduled coverage
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This note was uploaded on 07/04/2010 for the course FIN 319 taught by Professor Briar during the Spring '10 term at Citadel.

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IMch09 - CHAPTER 9 Risk Management and Commercial...

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