What is one of the commercial policy form types?

The Named Perils coverage is indeed a recognized type of commercial policy form. This form specifically outlines the perils or risks that are covered under the insurance policy. It is a more narrow form of coverage compared to comprehensive or all-risk policies because it only protects against the specific risks listed, meaning that if a peril is not mentioned in the policy, it is not covered. This can be valuable for businesses that want to limit their premium costs by only insuring against designated risks.

In the context of commercial insurance, it's important to understand the distinctions between different types of policy forms. General Liability is a category of insurance rather than a specific policy form and serves a different purpose based on liability coverage. The Comprehensive Form typically offers broader protection than Named Perils, making it relevant depending on the risk appetite of a business. The Exclusionary Form describes coverage in terms of what is not covered, rather than outlining specific risks, and is not a type of commercial policy form in the traditional sense.

Recognizing these forms can aid brokers and clients in identifying the best insurance solutions for various business needs, leading to informed decisions regarding coverage options.