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.