Commercial Property (CP) Institute (To view the course agenda, click here.)
At this institute, you will learn innovative ways to maximize coverage for various types of commercial property accounts.
- Commercial Property Coverage Forms & Endorsements*
- Commercial Property Causes of Loss & Endorsements*
- Equipment Breakdown*
- Time Element Coverages & Endorsements*
- COMMERCIAL PROPERTY COVERAGE FORMS AND ENDORSEMENTS – (8 hours) Examine the property coverage found in the Building and Personal Property Coverage Form including the various Additional Coverages, Coverage Extensions, and Optional Coverages. Discuss valuation methods and the application of coinsurance. Learn the proper use of various endorsements.
- COMMERCIAL PROPERTY CAUSES OF LOSS AND ENDORSEMENTS – (4 hours) Examine the common coverage, exclusions, and limitations of the three Causes of Loss Forms (Basic, Broad, and Special) with emphasis on the Special Causes of Loss Form. You will also explore the need for the Legal Liability Coverage Form.
- EQUIPMENT BREAKDOWN – (2 hours) Learn the property exclusions that determine when an Equipment Breakdown Policy is needed. Determine the types of equipment to include, and the role of engineering as it relates to these policies.
- TIME ELEMENT COVERAGES & ENDORSEMENTS – (6 hours) Determine the what, how, and why of Business Income Coverage and Extra Expense coverage. Learn the importance of complying with the coinsurance provision and which Optional Coverages are used to remove or suspend this provision. Examine several valuable Business Income endorsements.
* Mandatory topics are part of every Institute.
To view the course agenda, click here.