Glossary

Commercial property (CP) coverage forms are Insurance Services Office, Inc. (ISO), CP insurance forms that define, limit, and explain what property or property interest is covered. An ISO CP policy consists of one or more coverage forms, one or more causes of loss forms, the CP conditions form, the common policy conditions form, and the declarations. The most widely used ISO CP coverage forms are the Building and Personal Property Coverage Form (CP 00 10) and the Business Income (and Extra Expense) Coverage Form (CP 00 30).

A commercial property policy is an insurance policy for businesses and other organizations that insures against damage to their buildings and contents due to a covered cause of loss, such as a fire.

A commercial property program is a portfolio of coverage forms, policywriting procedures, and rating rules for insuring the property loss exposures of business entities.

Commercial risks arise from the operations of for-profit and tax-exempt businesses or organizations (as opposed to the risks of individuals and households).

A commercial waste management facility is a treatment, storage, disposal, or transfer facility that accepts waste from a variety of sources, as compared to a private facility that normally manages a limited waste stream generated by its own operations.

In insurance, the commission is a certain percentage of premium produced that is retained as compensation by insurance agents and brokers.

A commissioner is the title of the head of most state insurance departments.

The Commissioners Standard Ordinary (CSO) 1958 Mortality Table is the mortality table approved by the National Association of Insurance Commissioners (NAIC) as a standard for evaluation and computation of nonforfeiture values for whole life insurance policies.

Commissions of selling agents coverage is for reduction in sales commissions for selling agents when the manufacturer they represent cannot deliver the product because of damage to or destruction of the manufacturer's plant.

The Committee of Sponsoring Organizations (COSO) establishes frameworks and criteria that companies and their auditors use to establish internal controls.