Business And Personal Property Coverage Form - BPPCF


DEFINITION of 'Business And Personal Property Coverage Form - BPPCF'

Provisions of a business insurance policy that provide coverage for personal property and buildings. The BPPCF is contained in the simplified commercial lines portfolio (SCLP) policy, and extends coverage in three ways: buildings owned by the business, as well as fixtures, equipment and materials considered permanent; personal property owned by the business; and improvements and personal property of parties other than the insured.

BREAKING DOWN 'Business And Personal Property Coverage Form - BPPCF'

BPPCF typically insures against three forms of peril: basic form (e.g. fire, smoke, vandalism), broad form (falling objects, such as ice and sleet) and special cause of loss form (accidental losses outside of flood, earthquakes, and wear and tear).

Businesses can expand the BPPCF coverage to also cover property outside of the building (e.g. trees, fences), information and records, personal effects and off-premise property.

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  1. What is the difference between a peril and a hazard?

    The two related terms "peril" and "hazard" are often used in reference to the insurance industry. Essentially, a peril is ... Read Full Answer >>
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    In the United States, and most developed nations, regulators impose required statutory capital reserve ratios on insurance ... Read Full Answer >>
  3. What risks do I face when investing in the insurance sector?

    Like all equity investments, insurance companies present investors with market risk. Insurance companies, like banks, also ... Read Full Answer >>
  4. What are the main factors that impact share prices in the insurance sector?

    The main factors that impact share prices in the insurance sector are interest rates, earnings and actuarial risk. In the ... Read Full Answer >>
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    Insurance policies have deductibles for behavioral and financial reasons. Moral Hazards Deductibles mitigate the behavioral ... Read Full Answer >>
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