Brandie's first job out of college was working for a national insurance brokerage.Her boss gave her a book to review that contained many different insurance forms.One interesting form provides open-perils coverage,but excludes losses usually covered by standard property insurance contracts (fire,wind,hail,explosion,etc. ).Brandie boss told her that some businesses purchase the coverage to supplement their other property coverages,as it provides flood coverage,earthquake coverage and insurance for other losses that are not excluded.The interesting policy form Brandie found was

Question

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The form described in the question provides open-perils coverage but excludes losses usually covered by standard property insurance contracts. This is characteristic of difference in conditions (DIC) insurance, which is a type of policy that provides coverage for losses that are not typically covered by standard property insurance policies. DIC policies may include coverage for flood, earthquake, and other perils not covered by standard policies. Inland marine insurance covers property in transit, while commercial umbrella liability insurance provides additional liability coverage beyond the limits of underlying insurance policies. Protection and indemnity insurance is a type of liability insurance for vessel owners. None of these options fit the description of the interesting policy form described in the question.

Brandie's First Job Out of College Was Working for a National