Product Update

New ISO Commercial Property Cannabis Coverage Endorsement Discussed in CPI

The October 2022 release to Commercial Property Insurance (CPI) addresses the cannabis coverage endorsement that has been added to the Insurance Services Office, Inc. (ISO), commercial property program.

The most recent multistate commercial property forms filing by ISO was announced in November 2021. It consists of a single new optional endorsement: Cannabis Coverage (CP 99 06). The new endorsement has been approved for use in a majority of jurisdictions as of October 2022. This release adds a discussion and specimen copy of the Cannabis Coverage (CP 99 06) endorsement. Note that, although it is approved for use in many jurisdictions, the endorsement contains provisions establishing that no coverage applies to the extent that cannabis goods or products are prohibited by state or local law in the state where they are located.

EXCEED_Build A High Performing Insurance Team