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Section 1
Analyze commercial property, liability, inland marine, farm, and umbrella coverage
Preview
Preview: Commercial Package Policies (18%)
Preview includes- 4 of 5 lesson topics
- 1 overview segment
- 3 core concepts
- 2 exam tips
Lesson Topics
- CPP structure and common declarations/conditions
- Commercial property, business income, and extra expense
- Commercial liability, professional/products liability, and umbrella/excess
- Commercial inland marine and ocean marine
Overview
The 18% Commercial Package Policies domain is the largest part of the Indiana Independent Adjuster outline. Treat a package as a collection of coverage parts, not as universal coverage.
Core Concepts
- A Commercial Package Policy (CPP) uses common policy declarations and common policy conditions plus one or more coverage parts; each part retains its own insuring agreement, limits, exclusions, and conditions.
- Commercial property coverage addresses first-party physical loss to covered buildings and business personal property, including property of others when the form provides it.
- Business income is time-element coverage. Under standard forms, it generally depends on a covered suspension caused by covered direct physical loss or damage; the policy's period-of-restoration and loss-calculation provisions control.
Exam Tips
- Name the insured interest before naming the policy part.
- For every commercial scenario, ask: first party or third party, physical damage or time element, and primary or excess?
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Section 2
Apply independent-adjuster licensing, renewal, and discipline
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Section 3
Analyze homeowners property and liability sections
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Section 4
Analyze CGL coverage parts, insureds, and limits
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Section 5
Apply contract and policy principles
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Section 6
Analyze liability, medical, physical-damage, and UM/UIM coverage
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Section 7
Investigate and document property and casualty losses
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Section 8
Apply causes of loss, conditions, and exclusions
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Section 9
Apply policy concepts and Indiana workers’ compensation rules
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Section 10
Apply unfair-claims, trade-practice, guaranty, and federal rules
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Section 11
Apply exclusions, conditions, and endorsements
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Section 12
Apply professional and specialty liability concepts
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Section 13
Apply Indiana auto-claim and assigned-risk rules
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Section 14
Analyze valuation, causation, liability, and policy structure
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Section 15
Apply insured, covered-auto, and exclusion provisions
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Section 16
Compare DP forms and coverages
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Section 17
Evaluate value, settlement, releases, and dispute resolution
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Section 18
Apply commercial auto insured and vehicle concepts
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Section 19
Identify construction systems and damage evidence
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Section 20
Analyze benefits, covered employment, and assigned risk
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Section 21
Recognize BOP purpose and structure
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Section 22
Apply mine-subsidence requirements
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Section 23
Apply dwelling conditions and exclusions
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Section 24
Analyze garage and garagekeepers coverage
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Section 25
Apply depreciation, matching, debris, and code concepts
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Section 26
Apply basic BOP property and liability concepts
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