What is the definition of Commercial Lines?
Commercial Lines are products that are designed for and purchased by a business. This is insurance coverage for businesses, as well as professional organization and commercial institutions. These products are created by the insurance companies to cater to the needs of businesses, which is quite different from personal insurance needs.
The major coverages provided by Commercial Lines Insurance include comprehensive general liability, fire and allied lines, business income, boiler and machinery, inland marine, product liability, surety and fidelity, workers' compensation, directors and officers liability and medical malpractice liability. The business owner can also opt to purchase these coverages under a separate policy, except for business income, which is an add-on to a fire insurance policy.
| Not a bit | Very useful |
- Commercial Multiple Peril Policy
- Commercial Paper
- Commission
- Community Rating Laws
- Commutative Contract
- Competitive Replacement Parts
- Competitive State Fund
- Complaint Ratio
- Completed Operations Coverage
- Comprehensive Coverage
- Commercial General Liability Insurance (CGL)
- Combined Ratio
- Collision Coverage
- Collateral Source Rule
- Collateral Assignment
- Collateral
- Coinsurance
- COBRA
- Claims Made Policy
- Chartered Property/Casualty Underwriter (CPCU)