Product Update

ISO Commercial Flood Program Discussion Expanded and Cancellation Summaries Updated in Commercial Property Insurance

This release to Commercial Property Insurance (CPI) expands the Insurance Services Office, Inc. (ISO), commercial flood insurance program discussion to address the new cannabis exclusion endorsements for use with the ISO commercial flood policy. Additionally, the summaries of state cancellation and nonrenewal provisions for commercial property policies have been updated to reflect the latest changes.

Effective in April in a majority of jurisdictions, two new endorsements were added to the ISO commercial flood insurance program: Cannabis Exclusion (FC 99 04) and Cannabis Exclusion with Hemp Exception (FC 99 05). These endorsements were made available in response to the legalization of medical and recreational marijuana use in a number of states. At the same time, one endorsement—Increased Cost of Compliance Coverage (FC 02 02)—was editorially revised. This release provides discussions and specimen copies of these new and revised commercial flood program endorsements.