Commercial Output Policy 3.0

Our Commercial Output Policy (COP 3.0) is designed to protect against the risks faced by large organizations operating in a wide range of industries and institutions including manufacturing, municipalities, industrial, processing and distributing operations. Our policy includes extensive Property and Inland Marine coverages and can be customized to meet the needs of your business

Limits can be adjusted to meet the needs of individual insureds.

Coverage Extensions
Limit
Supplemental Coverages
Limit

Consequential Loss
Covered
Brands and Labels Expense
$50,000

Debris Removal, Additional Expense
25% of Loss, $50,000
Expediting Expenses
$50,000

Emergency Removal, Days
365
Fire Department Service Charges
$25,000

Emergency Removal Expense
$5,000
Inventory and Appraisal Expense
$50,000

Fraud and Deceit
$5,000
Ordinance and Law (Undamaged Parts of Buildings)
Covered

Damage from Theft
Covered
Ordinance and Law (Increased Cost to Repair / Cost to Demolish and Clear Site)
$100,000

Off Premise Utility Disruption - Overhead Transmission Lines Excluded
$50,000
Personal Effects
$15,000

 
 
Pollution Cleanup and Removal
$50,000 in 12 month period

 
 
Recharge of Fire Extinguishing Systems
$50,000

 
 
Rewards
$10,000

 
 
Sewer Backup and Water Below the Surface
$25,000

 
 
Trees, Shrubs and Plants
$50,000

 
 
Underground Pipes, Pilings, Bridges and Roadways
$250,000

Although inland marine coverages are included in the COP, they ordinarily are added to a standard commercial package policy via a separate coverage form. When they are included in standard commercial property forms, the limits and coverage are usually considerably less than that provided in the COP.

Supplemental Marine Coverage
Limit

Accounts Receivable
$50,000

Electrical or Magnetic Disturbance of Computers
Covered

Power Supply Disturbance of Computers
Covered

Virus and Hacking Coverage
$25,000 Occurrence $50,000 12 Month Period

Fine Arts
$100,000

Off Premises Computers
$25,000

Property on Exhibition
$50,000

Property in Transit
$50,000

Sales Representatives Samples
$50,000

Software Storage
$50,000

Valuable Papers
$100,000

Coinsurance

The COP Property Coverage Part does not contain a coinsurance clause. If coverage is written on a scheduled basis by attaching CO 1227, there is an option to activate the coinsurance clause within that endorsement by indicating the coinsurance percentage on the schedule of coverages.

Valuation — The value of covered property is based on replacement cost without any deduction for depreciation, unless Actual Cash Value is indicated on the schedule of coverages.

Certain categories of property, however, have their own special method of valuation under the COP policy. They include: Fine Arts, Glass, Computer Hardware and Software, Merchandise Sold, Manufactured stock, Pair or Set, Loss to parts, Tenant’s Improvements, Valuable Papers and Accounts Receivable. See the policy form for these specific valuation details.

Key Coverage Options

Scheduled Locations — Although the COP is written on a blanket basis, coverage can be amended to apply on a scheduled location basis with the attachment of location endorsements

Reporting Conditions — Reporting conditions can be added to the COP by using the Reporting Conditions endorsement and the schedule.

Deductible Options — When the Multiple Deductible Endorsements are added to the policy, deductibles can vary by perils or the types of property and locations covered.