common policy conditions
The part of the insurance policy typically relating to cancellation, changes
in coverage, audits, inspections, premiums, and assignment of the policy. The
commercial lines policy forms portfolio promulgated by Insurance Services Office,
Inc. (ISO), takes a modular approach to structuring policies. A commercial lines
policy is made up of a declarations page, the common policy conditions, one
or more coverage forms, and endorsements that modify the coverage forms. The
common policy conditions form (IL 00 17) is used with the commercial property,
general liability, and crime forms to specify the conditions applicable to the
policy.
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CAI XII.B;
CLI V.M;
CPI V.C