The payroll endorsement is modified to No change in Payroll Limitation or Exclusion provide a means of limiting or excluding the of definition payroll expense of category of employees Option “any CP 15 10 or individual employees” The term “ordinary payroll expense” and its definition are removed from the endorsement. The title, also, will no longer refer to the word and the “ordinary” word will no longer appear in other “ordinary” sections such as the section”. The “coinsurance revised endorsement serves the same purpose as the prior one but can be used to address any category of employee on the insured’s payroll. Condominium Currently the endorsement places a $1,000 Coverage is broadened Commercial limitation on an assessment as a result of a Optional deductible on the condominium association Coverage: Loss policy. This endorsement provides a means for Assessment selecting a higher limit. CP 04 18 Utility The Utility Service Time Element endorsement Coverage is broadened is revised to add a new category of utility Removal (Time service: wastewater removal property. By Element) definition, wastewater removal property is a CP 15 45 utility system for removing wastewater and sewage from the described premises other than a system designed primarily for draining storm water. The utility property includes sewer mains, pumping stations and similar equipment for moving the effluent to a holding, treatment or disposal facility; and includes such facilities. Earthquake In 1999, the EQSL Endorsement CP 10 39 was Coverage is clarified and Sprinkler Leakage withdrawn from the series and EQSL could be broadened Deductible purchased by activating the EQSL ONLY option CP 10 40; CP 10 45 on the EQ endorsements CP 10 40 and CP 10 45. The revision in this form adds language providing that the EQ deductible provisions outlined in the EQ endorsement (that is, the percentage deductible) do not apply to the EQSL—Only coverage. Instead the Fire deductible applies. Builders This change relates back to the of There is no change in of Building property” discussed above. coverage” “entrusted “intended Materials, Entrusted Property: The revision is included to Fixtures, distinguish between those who have a role in
Payroll Limitation or Exclusion Option CP 15 10 The payroll endorsement is modified to provide a means of limiting or excluding the payroll expense of “any category of employees or individual employees” The term “ordinary payroll expense” and its definition are removed from the endorsement. The title, also, will no longer refer to the word “ordinary” and the word “ordinary” will no longer appear in other sections such as the “coinsurance section”. The revised endorsement serves the same purpose as the prior one but can be used to address any category of employee on the insured’s payroll. No change in of definition Condominium Commercial Optional Coverage: Loss Assessment CP 04 18 Currently the endorsement places a $1,000 limitation on an assessment as a result of a deductible on the condominium association policy. This endorsement provides a means for selecting a higher limit. Coverage is broadened Utility Removal (Time Element) CP 15 45 The Utility Service Time Element endorsement is revised to add a new category of utility service: wastewater removal property. By definition, wastewater removal property is a utility system for removing wastewater and sewage from the described premises other than a system designed primarily for draining storm water. The utility property includes sewer mains, pumping stations and similar equipment for moving the effluent to a holding, treatment or disposal facility; and includes such facilities. Coverage is broadened Earthquake Sprinkler Leakage Deductible CP 10 40; CP 10 45 In 1999, the EQSL Endorsement CP 10 39 was withdrawn from the series and EQSL could be purchased by activating the EQSL ONLY option on the EQ endorsements CP 10 40 and CP 10 45. The revision in this form adds language providing that the EQ deductible provisions outlined in the EQ endorsement (that is, the percentage deductible) do not apply to the EQSL—Only coverage. Instead the Fire deductible applies. Coverage is clarified and broadened Builders of Building Materials, Fixtures, This change relates back to the of “entrusted property” discussed above. Entrusted Property: The revision is included to distinguish between those who have a role in There is no change in “intended coverage”
New_Commercial_Property_Forms_from_ICC_article.docx