Chapter 2 – BPP coverage form
    Describe the types of property covered (and not covered) under the Building and Personal Property (BPP) coverage form Identify additional coverages and extensions under BPP Explain optional coverages available in the BPP form Ultimately, determine if a company has coverage for certain losses and determine the amount of loss payments

Business and personal property (BPP) coverage form  BPP is the most common commercial property coverage part  Covers direct physical damage losses to commercial buildings and their contents  Specialized forms are available for others (e.g., condominiums and buildings under construction – see Chapter 5)  Declarations page identifies which of three major types of property will be covered (as well as the limits for each): o Building (real property) o Business personal property (i.e., contents) o Personal property of others Review: Coverage Part Pieces  Declarations page that applies to that coverage  One or more coverage forms (the BPP coverage form in this case) o Describe the insurance provided (insuring agreement) and the property covered (and not covered)  Causes of loss forms which describe covered perils o Discussed in Chapter 3  Conditions form unique to that coverage (if applicable)  Any selected endorsements (Chapter 4) Anatomy of a “Dec” Page  U: drive has an example  Insured’s name, address, and business/property description o Mortgage(s) (if any)  Effective and expiration dates  List of coverages and premiums for each part including covered causes of loss o Coverage limit o Deductible amount o Coinsurance requirement  Any optional coverages  List of forms & endorsements

Sections of BPP Coverage Form  Covered property  Property not covered  Additional coverages  Coverage extensions  Limits of insurance  Deductible  Loss conditions  Additional conditions 