CIC COMMERCIAL PROPERTY QUESTIONS AND SOLUTIONS
2025/2026 RATED A+
✔✔Extended Period Of Indemnity - ✔✔optional coverage that increases the time period
for which the Additional Coverage - Extended Business Income will apply. The total
number of days must be indicated on the Declarations, which will replace the "60 days"
shown in the policy paragraph A.5.c.
✔✔Income statement - ✔✔a report of the organization's financial performance for a
stated time period
✔✔"operations" (BIEE definition) - ✔✔business activities occurring at the described
premises (or tenantability of described premises if "Rental Value" applies)
✔✔"period of restoration" (BIEE definition) - ✔✔period of time that begins 72 hours after
the time of direct physical loss or damage caused by or resulting from a Covered Cause
of Loss at the described premises. The period of restoration begins immediately after
the time of direct physical loss or damage caused by or resulting from a Covered Cause
of Loss at the described premises for Extra Expense coverage. It ends on the earlier of
the date when the property at the described premises should be repaired, rebuilt, or
replaced with reasonable speed and similar quality or the date when business is
resumed at a new permanent
✔✔"pollutants" (BIEE definition) - ✔✔any solid, liquid, gaseous or thermal irritant or
contaminant, including smoke, vapor, soot, fumes, acids, alkalies, chemicals and waste
✔✔"suspension" (BIEE definition) - ✔✔slowdown or cessation of your business
activities (or part or all of the described premises is rendered untenantable if "Rental
Value" applies)
✔✔Tenantability - ✔✔fit to be rented or in a condition suitable for a tenant
✔✔Time element - ✔✔insurance coverage in which measurement of loss is tied to a
period of time and that protects an insured when business is interrupted as a result of
direct physical loss to property from a covered cause of loss
✔✔Valued policy - ✔✔declares the amount that will be paid in the case of a total loss of
the property
✔✔ Actual Cash Value (ACV) - ✔✔replacement cost less an allowance for insurance
depreciation, wear and tear, or obsolescence
✔✔Advance premium - ✔✔initial premium paid to begin coverage on a policy
2025/2026 RATED A+
✔✔Extended Period Of Indemnity - ✔✔optional coverage that increases the time period
for which the Additional Coverage - Extended Business Income will apply. The total
number of days must be indicated on the Declarations, which will replace the "60 days"
shown in the policy paragraph A.5.c.
✔✔Income statement - ✔✔a report of the organization's financial performance for a
stated time period
✔✔"operations" (BIEE definition) - ✔✔business activities occurring at the described
premises (or tenantability of described premises if "Rental Value" applies)
✔✔"period of restoration" (BIEE definition) - ✔✔period of time that begins 72 hours after
the time of direct physical loss or damage caused by or resulting from a Covered Cause
of Loss at the described premises. The period of restoration begins immediately after
the time of direct physical loss or damage caused by or resulting from a Covered Cause
of Loss at the described premises for Extra Expense coverage. It ends on the earlier of
the date when the property at the described premises should be repaired, rebuilt, or
replaced with reasonable speed and similar quality or the date when business is
resumed at a new permanent
✔✔"pollutants" (BIEE definition) - ✔✔any solid, liquid, gaseous or thermal irritant or
contaminant, including smoke, vapor, soot, fumes, acids, alkalies, chemicals and waste
✔✔"suspension" (BIEE definition) - ✔✔slowdown or cessation of your business
activities (or part or all of the described premises is rendered untenantable if "Rental
Value" applies)
✔✔Tenantability - ✔✔fit to be rented or in a condition suitable for a tenant
✔✔Time element - ✔✔insurance coverage in which measurement of loss is tied to a
period of time and that protects an insured when business is interrupted as a result of
direct physical loss to property from a covered cause of loss
✔✔Valued policy - ✔✔declares the amount that will be paid in the case of a total loss of
the property
✔✔ Actual Cash Value (ACV) - ✔✔replacement cost less an allowance for insurance
depreciation, wear and tear, or obsolescence
✔✔Advance premium - ✔✔initial premium paid to begin coverage on a policy
