What is a Commercial Package Policy?
A commercial package policy (CPP) is a flexible insurance solution that combines several separate policies into a single, convenient package policy. The individual policies contained in commercial package policies are normally commercial, rather than personal, insurance policies.
What Coverages Are Available Through Commercial Package Policies?
Because the individual policies inside a CPP are customizeable, there isn’t one set of coverages that all commercial package policies offer. Depending on a business’ risk exposure and insurance needs, a policy might offer any combination of the following coverages:
- General Liability Coverage
- Business Interruption Coverage
- Commercial Property Coverage
- Commercial Auto Coverage
- Employment Practices Liability Coverage
- Supply Chain Risk Coverage
- Inland Marine Coverage
These are just a few examples of the many coverages that may be included in a CPP. Many other coverages can also be included, including highly specific coverages like pollution liability coverage, farming or ranching loss coverage, and terrorism coverage.