Provides businesses with legal advice and covers legal expenses to enforce or defend legal rights in a range of disputes. Cover is available under various sections: court attendance expenses; tax/VAT disputes; prosecution defence; data protection liability; contract disputes; personal injury or property claims; premises disputes; employment disputes and awards; licence disputes.
Insurance Encyclopedia
Commercial Lines
“Commercial lines” refers to insurance products designed for and bought by businesses. Among the major coverages are boiler and machinery, business interruption, commercial auto, commercial general liability, directors and officers liability, fire and allied lines, inland marine, professional liability, product liability, surety and fidelity bonds, and workers compensation. Most of these commercial coverages can be purchased separately except business interruption coverage which must be added to a fire insurance (property) policy.
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A distinction marking property and liability coverage written for business or entrepreneurial interests as opposed to personal lines.
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US: Insurance for businesses, organizations, institutions, governmental agencies, and other commercial establishments.
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Insurance for businesses, professionals, and commercial establishment.
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US: Insurance lines used to cover commercial risks as opposed to personal lines, which cover personal risks. Examples include commercial general liability (CGL), workers compensation, and commercial property insurance.
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MEDICAL,USA: Insurance products that are created for businesses versus personal lines products. Also called commercial general liability insurance (CGL).
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Insurance sold to businesses and other commercial entities.
Commercial lines manual
A manual compiled by the Insurance Services Office Inc. that includes data on commercial rates. This manual is used to help determine rates.
commercial managed care organization (MCO)
Health maintenance organization that is an eligible organization with a contract under §1876 or a Medicare+Choice organization; a provider-sponsored organization or any other private or public organization that meets the requirements of §1902(w). These MCOs provide comprehensive services to commercial and/or Medicare enrollees, as well as Medicaid enrollees.
commercial MCO
See: commercial managed care organization (MCO).
Commercial multiple peril (CMP) policy
See: commercial package policy.
Commercial Output Policy (COP)
(See Manufacturers Output Policy).
Commercial package policy
A package insurance policy that provides both liability and property coverage for businesses and other organizations.
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Insurance coverage for a commercial organization that covers at least two of the following: Commercial Property, Business Crime, Business Automobile, Boiler and Machinery, Commercial General Liability, Inland Marine, Farmowners, and Ranchowners.
Commercial Paper Insurance
A form of credit enhancement insurance that guarantees the timely payment of principal and interest on commercial paper issued by corporations.
Commercial plan
Benefit package that an insurance company or managed care plan offers to employers as compared with a senior plan offered to Medicare beneficiaries.