See: commercial managed care organization (MCO).
Insurance Encyclopedia
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.
Commercial property floater
A way to insure a business that does not operate from one fixed location; for example, a food vendor that changes location or sells at different events.
Commercial property policy
An alternative title for the Building and Personal Property Coverage Form.
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US: An insurance policy for businesses and other organizations that insures against damage to their buildings and contents due to a covered cause of loss, such as a fire. The policy may also cover loss of income or increase in expenses that results from the property damage (PD). Commercial property policies may be written on standard or nonstandard forms.
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Insurance that covers risks associated with operating a business; for example fire, burglary, or theft.
Commercial Risk
Risk carried by the exporter (unless insurance is secured) that the foreign buyer may not be able to pay for goods delivered on an open account basis.
Commercial vehicle insurance
A general term referring to the insurance of goodscarrying vehicles, buses and coaches, agricultural and forestry vehicles, mobile plant and other special types.