CIC Commercial Property study guide
CIC Commercial Property · Work through your exam, one topic at a time.
The CIC Commercial Property course is one of the courses in the Certified Insurance Counselor program, a designation program offered by the Risk & Insurance Education Alliance. The Alliance describes the CIC as a nationally recognized designation for agency owners, producers, agents, customer service representatives, brokers, and insurance company personnel. The Commercial Property course focuses on maximizing coverage and defending property accounts, with instruction on commercial property coverages and endorsements in depth. Its three topic areas are Commercial Property Coverage Forms & Endorsements, Commercial Property Causes of Loss & Endorsements, and Time Element Coverages & Endorsements. Topics on this exam: Commercial Property Coverage Forms & Endorsements, Commercial Property Causes of Loss & Endorsements, and Time Element Coverages & Endorsements. The CIC Commercial Property study guide has 3 sections and about 1,388 words.
01Commercial Property Coverage Forms & Endorsements
This domain tests how ISO commercial property forms insure property values, not just perils. You must know what CP 00 10 Building and Personal Property covers, how limits and coinsurance interact, which extensions apply automatically, and where endorsements change the base form. Building : completed additions, fixtures, permanently installed machinery, outdoor fixtures, and personal property used to service the building. Business personal property : furniture, fixtures, stock, machinery, and tenant’s improvements and betterments if not covered under the building.
457 words, about 2 min02Commercial Property Causes of Loss & Endorsements
This domain tests which perils are covered under the Basic, Broad, and Special causes of loss forms, how exclusions operate, and when endorsements add back coverage. The exam focuses on the difference between named-peril and open-peril coverage and on exclusion exceptions. Basic (CP 10 10) : named perils only-fire, lightning, explosion, windstorm or hail, smoke, aircraft or vehicles, riot or civil commotion, vandalism, sprinkler leakage, sinkhole collapse, and volcanic action. Broad (CP 10 20) : Basic plus breakage of glass, falling objects, weight of snow, ice, or sleet, and water damage.
453 words, about 2 min03Time Element Coverages & Endorsements
This domain tests business income and extra expense mechanics: how the loss is measured, how long it lasts, how coinsurance applies, and which additional coverages respond when access or a supplier is interrupted. Expect calculation questions and questions on the period of restoration. Business income is net income plus continuing normal operating expenses, including payroll -not gross revenue. The insured recovers actual loss sustained during the period of restoration.
478 words, about 2 min