First-Party Property Insurance Policies | Practical Law

First-Party Property Insurance Policies | Practical Law

This Note explains key terms, provisions, and exclusions in commercial first-party property insurance policies. It discusses all-risks versus named perils policies, open versus valued policies, causation, valuation, communicable disease endorsements, increased construction cost extensions, crisis-related extensions, debris removal extensions, and loss adjustment expense extensions.

First-Party Property Insurance Policies

Practical Law Practice Note 5-504-4845 (Approx. 21 pages)

First-Party Property Insurance Policies

by Practical Law Commercial Transactions
This Note explains key terms, provisions, and exclusions in commercial first-party property insurance policies. It discusses all-risks versus named perils policies, open versus valued policies, causation, valuation, communicable disease endorsements, increased construction cost extensions, crisis-related extensions, debris removal extensions, and loss adjustment expense extensions.