Glossary

The comment period is time provided for the public to review and comment on a proposed Environmental Protection Agency (EPA) action or rulemaking after publication in the Federal Register.

Commercial appropriation is the unauthorized use of the name or likeness of a person (either a private individual or a celebrity) for commercial purposes. Commercial appropriation could, for example, involve publishing a picture of a celebrity taken with the owner of a restaurant indicating that the celebrity endorses the establishment. Coverage for such claims is afforded under media liability insurance policies.

The commercial auto insurance coverage forms consist of the entire portfolio of coverage forms that furnish auto coverage for any type of commercial entity. It includes the business auto, business auto physical damage, garage, motor carrier, and truckers coverage forms.

A commercial crime policy is a crime insurance policy that is designed to meet the needs of organizations other than financial institutions (such as banks). A commercial crime policy typically provides several different types of crime coverage, such as employee dishonesty coverage; forgery or alteration coverage; computer fraud coverage; funds transfer fraud coverage; kidnap, ransom, or extortion coverage; money and securities coverage; and money orders and counterfeit money coverage.

The commercial general liability (CGL) policy is a standard insurance policy issued to business organizations to protect them against liability claims for bodily injury (BI) and property damage (PD) arising out of premises, operations, products, and completed operations; and advertising and personal injury (PI) liability. The CGL policy was introduced by Insurance Services Office, Inc. (ISO), in 1986 and replaced the "comprehensive" general liability policy.

A commercial insurer or reinsurer refers to any insurer whose principal business is selling insurance to anyone who requests a quotation, not just shareholders of the insurer. The shareholders, not necessarily the insureds, benefit from the insurer's profits.

Commercial lines insurance is a generic term used to encompass commercial risks as opposed to personal lines, which cover personal risks. Examples include commercial general liability (CGL), workers compensation, and commercial property insurance.

A commercial output policy (COP) is a broad all risks policy that provides a combination of commercial property and commercial inland marine coverages many businesses need. The COP is the successor to the manufacturers output policy (MOP), which was originally developed in the mid-1950s to insure in a single policy stock during the manufacturing process as well as in transit. The American Association of Insurance Services (AAIS) offers standard COP forms and rules for use by its member insurers. In addition, many insurers have developed their own COP forms and rules. COP premiums are typically developed using a distinctive rating system (referred to as a "deficiency point rating system") that allows many insurers to be more competitive using a COP than they could be using a standard commercial property policy.

A commercial package policy is a package insurance policy that provides both liability and property coverage for businesses and other organizations.

Attached to every Insurance Services Office, Inc. (ISO), commercial property policy, the Commercial Property Conditions form (CP 00 90) establishes the policy provisions. The policy provisions include concealment, misrepresentation, and fraud; control of property; insurance under two or more coverages; legal action against the insurer; liberalization; no benefit to bailee; other insurance; policy period and coverage territory; and transfer of recovery rights against others (subrogation).