An authoritative, searchable reference guide to commercial endorsements, ISO form designations, policy exclusions, and ACORD certificate terminology for producers, CSRs, and agency principals.
Showing 76 commercial insurance entities
ACORD 25 is the standard, single-page commercial certificate form used to certify the existence and limits of general liability, auto, umbrella, and workers compensation policies to certificate holders.
ACORD 28 is the standard certificate form used to document commercial property, building, business personal property (BPP), and business income coverages specifically for lenders, loss payees, and mortgagees.
ACORD 125 is the universal applicant information section of commercial lines applications, capturing legal entity structure, premise locations, historical loss runs, and ownership details.
ACORD 126 is the supplemental commercial application schedule capturing general liability exposures, classification codes, subcontracted costs, products-completed operations hazards, and premises operations.
An Additional Insured is an entity added to a commercial policy via endorsement, granting them secondary defense and indemnification rights for claims arising out of the named insured’s acts or operations.
Agreed Value is a commercial property policy provision that suspends the standard coinsurance clause in exchange for the insured filing an annual statement of values (SOV) accepted by the carrier.
AI Policy Checking is the automated OCR and semantic verification of newly issued commercial carrier policies against expiring declarations, quotes, and binders to catch omissions and premium errors.
An aggregate limit represents the maximum cumulative dollar amount an insurer will pay across all covered claims occurring within a single policy annual period, regardless of the number of individual occurrences.
The anti-subrogation rule is a fundamental insurance law doctrine preventing an insurer from seeking subrogation recovery against its own insured or additional insured for a risk covered under the policy.
Bailee's Customers Insurance is a specialized inland marine form providing direct physical damage coverage for customer property in the insured's care, custody, or control, regardless of legal liability.
Builders Risk is a specialized inland marine or commercial property policy that covers buildings, structures, and materials while under active construction, erection, or renovation.
Business Interruption insurance covers the actual loss of business income sustained due to the necessary suspension of operations caused by direct physical damage from a covered peril.
A blanket additional insured endorsement automatically extends additional insured status to any entity the named insured has agreed in writing to include, without requiring specific carrier endorsement schedules.
An endorsement where the carrier automatically waives its right of recovery against third parties whom the named insured has agreed to waive rights against in a prior written contract.
An extension or historic endorsement eliminating exclusions for property damage to work performed by subcontractors on behalf of the named insured.
Exclusion 2.j(4) in standard ISO CGL forms eliminating coverage for property damage to personal property in the care, custody, or control of the insured.
A Certificate Holder is the person or entity named in the bottom left box of an ACORD 25 certificate to whom the certificate is delivered as proof of insurance.
ISO CG 20 10 is the standard endorsement granting additional insured status for liability caused in whole or in part by the named insured’s ongoing commercial operations.
ISO CG 20 37 is the endorsement extending additional insured protection to third parties for liability arising out of the named insured’s products-completed operations hazard.
A commercial policy form requiring that both the wrongful act occurs on or after the retroactive date AND the claim is formally made and reported to the insurer during the policy period.
A commercial property condition requiring the insured to maintain a policy limit equal to a stated percentage (commonly 80%, 90%, or 100%) of the actual insurable value of the property.
ISO numerical designations (Symbols 1 through 9) in Section I of the Business Auto Coverage Form (CA 00 01) defining which vehicles qualify as covered autos.
Specialized insurance protecting commercial enterprises against direct loss of money, securities, and property caused by employee theft, forgery, computer fraud, and funds transfer fraud.
Commercial flood insurance protects business structures and contents from inundation of water, available through the statutory NFIP ($500k building / $500k contents cap) or the private surplus lines market.
A Commercial Umbrella provides higher liability limits over underlying GL, Auto, and Employers Liability while offering drop-down coverage for gaps; pure Excess Liability strictly mirrors underlying policy terms.
An inland marine floater providing mobile property coverage for construction machinery, tools, cranes, and heavy equipment at jobsites, during transit, and in temporary storage.
Comprehensive coverage for first-party data breach recovery, forensic investigation, ransomware extortion, and business interruption, plus third-party privacy liability and regulatory defense.
An ISO endorsement granting additional insured status to specifically named organizations for liability arising out of the named insured’s ongoing operations or premises.
An ISO endorsement extending additional insured status to upstream parties that do not have a direct contractual relationship with the named insured, closing the privity gap of CG 20 33.
The baseline third-party liability coverage protecting businesses against bodily injury, property damage, and personal/advertising injury arising out of operations, premises, or completed products.
The most comprehensive commercial property coverage form, insuring against direct physical loss to covered property unless the cause of loss is specifically excluded or limited.
Coverage protecting a business against lost earnings caused by direct physical damage to property owned by critical suppliers, distributors, or key anchor customers.
An endorsement to a Builders Risk policy reimbursing the owner or developer for recurring economic expenses incurred when a covered physical loss delays project opening beyond schedule.
Management liability insurance protecting corporate directors and officers from personal financial loss resulting from lawsuits alleging breach of fiduciary duty, mismanagement, or regulatory violations.
An ISO endorsement that increases the monetary limit available to clear, haul away, and dispose of damaged property debris following a catastrophic loss.
Insurance providing defense and indemnity for employment-related wrongful acts, including sexual harassment, discrimination, wrongful termination, retaliation, and failure to promote.
Insurance covering physical damage, business income loss, and spoilage caused by mechanical breakdown, electrical arcing, pressure vessel explosion, and cyber-induced equipment failures.
A contractual provision in claims-made policies extending the window of time an insured has to report claims for wrongful acts that occurred prior to policy cancellation.
Insurance reimbursing necessary expenses incurred by a business to continue operations at a temporary location following direct physical damage from a covered peril.
An ISO endorsement providing limited liability coverage for damages arising out of the loss, destruction, corruption, or inability to access electronic data caused by a tangible physical occurrence.
Part Two of a standard Workers Compensation policy, protecting employers against common-law employee lawsuits alleging workplace injuries outside statutory workers comp immunity.
A fundamental CGL exclusion eliminating coverage for property damage to the insured’s own completed work, preserving insurance for third-party damage rather than faulty craftsmanship.
An endorsement to the Business Auto Policy that removes the standard fellow employee exclusion, protecting co-workers who injure colleagues while driving business autos.
A mandatory ISO exclusion eliminating CGL coverage for any bodily injury or property damage arising out of the ingestion, inhalation, contact with, or presence of fungi or bacteria.
An ISO endorsement providing comprehensive and collision physical damage coverage for rented or hired commercial vehicles under the named insured’s care.
Liability insurance protecting a business when employees use their personal vehicles or rented automobiles for company business errands and deliveries.
A contractual provision wherein one party agrees to assume the liability of another and defend, hold harmless, and indemnify them against specified loss or damages.
Property insurance covering cargo, tools, equipment, and customer property in transit over land, off-premises, or under commercial bailment.
A contractual exception to the CGL Contractual Liability exclusion, automatically extending liability coverage to tort liability assumed under leases, easement agreements, sidetrack pacts, and elevator maintenance contracts.
An ISO commercial property endorsement specifying how insurance claim payments will be distributed among the named insured and designated third-party financial interests.
An ISO endorsement that caps the maximum insurance recovery for any single building or location to a specific percentage (typically 110% to 125%) of its stated value on the Statement of Values.
Coverage protecting a business entity when employees, partners, or agents use their personal vehicles to perform corporate business tasks or errands.
Endorsement covering building loss and demolition costs required to rebuild damaged structures to modern municipal building codes, ADA standards, and zoning ordinances.
An occurrence policy covers injuries taking place during the policy term regardless of when filed; a claims-made policy requires the claim to be made and reported during the active term.
Specialized environmental insurance covering clean-up costs, third-party bodily injury, and property damage resulting from sudden or gradual pollution conditions.
An endorsement specifying that the named insured’s general liability policy responds first to a claim, without seeking contribution from the additional insured’s own insurance.
First-party insurance covering the direct logistical, destruction, notification, and replacement expenses incurred to withdraw a defective or adulterated product from commerce.
Coverage protecting businesses and licensed practitioners from client lawsuits alleging economic injury caused by professional negligence, errors, advice, or omitted duties.
Coverage for bodily injury and property damage occurring away from premises owned by the insured and arising out of the insured’s manufactured products or completed work.
Damages awarded in civil lawsuits to punish outrageous, reckless, or willful conduct rather than to compensate for actual financial or bodily harm.
A pivotal date in a claims-made policy establishing that wrongful acts occurring prior to that calendar date are completely excluded from coverage, regardless of when reported.
Replacement cost reimburses the full cost to repair or replace property with like kind and quality without deduction for depreciation; ACV subtracts physical depreciation from replacement cost.
Dedicated D&O coverage that protects individual directors and officers directly when the corporation is legally or financially unable to indemnify them (such as in bankruptcy).
Exclusion n in the ISO CGL form (CG 00 01) eliminating defense and indemnity for expenses incurred by the insured or others for the withdrawal, inspection, repair, or recall of products.
A schedule detailing the precise replacement cost of buildings, business personal property (BPP), machinery, and business income at every insured commercial location.
The broadest commercial auto liability symbol under the Business Auto Coverage Form (CA 00 01), covering owned, hired, rented, borrowed, and non-owned automobiles automatically.
A commercial auto designation covering autos leased, hired, rented, or borrowed by the named insured for corporate business operations.
A commercial auto symbol providing liability protection for autos not owned, leased, or borrowed by the named insured that are used in connection with corporate business operations.
A deductible erodes the policy limit and is handled by the carrier from first dollar, whereas an SIR requires the insured to pay claims directly before carrier defense obligations attach.
A standard policy condition stating that insurance coverage applies separately to each insured against whom claim is made or suit is brought, as if they had their own individual policy.
An endorsement providing Employers Liability protection in monopolistic workers compensation states (Ohio, Washington, North Dakota, Wyoming) where state funds do not offer Part Two coverage.
A policy status or contractual warranty confirming that an insured’s aggregate coverage limits have not been depleted or reduced by prior claims during the active policy term.
Property coverage reimbursing the cost to research, reconstruct, and restore lost or damaged legal documents, blueprints, ledgers, and property deeds.
A policy endorsement where an insurer waives its legal right to seek recovery against a negligent third party after paying a covered claim sustained by the named insured.
Liability insurance protecting warehouse operators and storage bailees against claims for physical damage to customer goods caused by the warehouse’s legal negligence.
The standard NCCI workers compensation endorsement waiving the insurer’s statutory right of subrogation against third parties specified in the schedule or under written contract.
Essential questions on ISO endorsement auditing, coverage verification, and ACORD compliance.
An ISO (Insurance Services Office) form is a standardized policy contract or endorsement template widely adopted across the commercial insurance industry. Examples include CG 20 10 (Additional Insured for Ongoing Operations) and CP 00 10 (Commercial Property Coverage). ISO forms establish uniform coverage grants, exclusions, and definitions that courts, carriers, and brokers rely on.
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