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    "legalName": "WJB Services, Inc.",
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    "licenseAuthority": "California Department of Insurance"
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  "notice": "Public page facts only. This record contains no visitor question, no tool input, and no identifier. It is not a coverage determination, an eligibility decision, or individualized advice.",
  "title": "Commercial Insurance Guide (CDI Form 700)",
  "publisher": "California Department of Insurance",
  "url": "https://www.insurance.ca.gov/01-consumers/105-type/95-guides/09-comm/commercialguide.cfm",
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  "accessedDate": "2026-08-31",
  "lastChecked": "2026-08-31",
  "updateCadence": "revised by the California Department of Insurance without a fixed schedule; the page carries the marker Form 700 Revised June 14, 2024",
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      "checksum": "7164fa236bce",
      "text": "The guide's glossary entry headed 'Claims Made' reads: a liability insurance policy where coverage applies to claims filed during the policy period no matter when the loss occurred subject to a retroactive inception date."
    },
    {
      "claimId": "ca-cdi-commercial-insurance-guide#c2",
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      "text": "The guide's glossary entry headed 'Occurrence' reads: a liability insurance policy that covers claims arising out of occurrences that take place during the policy period, regardless of when the claim is filed."
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    {
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      "text": "CDI states that there are three primary coverage sections that make up a CGL policy: premises liability, products liability and completed operations."
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    {
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      "text": "CDI describes CGL coverage as comprehensive in nature, covering all hazards within the scope of the insuring agreement that are not otherwise excluded."
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      "text": "CDI states that the major exclusions under a CGL policy include intentional injury; insured contracts; liquor liability; workers compensation and employers liability; pollution; aircraft; automobile; watercraft; mobile equipment; war; care, custody, and control; damage to your work; impaired property; sistership liability; and failure to perform."
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    {
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c6",
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      "text": "CDI describes specified perils as consisting of a list of each peril to be insured against, such as fire, explosion, windstorm and vandalism, and describes open perils coverage as covering all losses unless they are specifically excluded."
    },
    {
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c7",
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      "text": "CDI states that earth movement (including earthquake) and flood are two common perils that are excluded under open perils coverage."
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    {
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      "checksum": "474b3c09d957",
      "text": "CDI describes three commercial property valuation approaches: actual cash value, agreed value, which it says waives any coinsurance penalty and pays 100 percent of the stated amount, and replacement cost, which it describes as the amount it takes to replace property with new property of like kind and quality up to the limits of insurance."
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    {
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      "text": "CDI describes coinsurance as an insurance clause that defines the amount of each loss the company pays according to the amount of insurance carried divided by the amount of insurance required, and states that a policyholder can be subject to a monetary penalty at the time of a loss where a building is not insured to value."
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    {
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      "text": "CDI states that business interruption coverage replaces lost business income after a covered loss."
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    {
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      "text": "CDI describes a Business Owners Policy (BOP) as a combination commercial policy that covers property, general liability and business interruption."
    },
    {
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      "text": "CDI states that when a business has had three applications turned down from a licensed commercial insurance carrier, with written documentation of the declination, it can proceed to obtain insurance from the surplus line market."
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    {
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c13",
      "checksum": "a8d49efb1309",
      "text": "CDI states that a surplus line company can only be accessed through a specially licensed broker who holds a surplus line license issued by the CDI."
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    {
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c14",
      "checksum": "bf5a7414c19a",
      "text": "CDI states that although surplus line insurers must follow the Fair Claims Settlement Practices Regulations, the CDI has limited jurisdiction over the operation of surplus line insurers."
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    {
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c15",
      "checksum": "2f6337ed160e",
      "text": "CDI states that the California Insurance Guarantee Association (CIGA), which protects claims with admitted insurers, does not apply to surplus line insurers."
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    {
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      "text": "There are three primary coverage sections that make up a CGL policy: premises liability, products liability and completed operations."
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    {
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      "text": "Premises liability covers liability for accidental injury or property damage that results from either a condition on your premises or your operations in progress, whether on or away from your premises."
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    {
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c18",
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      "text": "A products liability hazard exists for any business that manufactures, sells, handles, or distributes goods or products."
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    {
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      "text": "Completed operations covers your potential liability for bodily injury or property damage that arises out of your completed work."
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    {
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c20",
      "checksum": "11e407089a75",
      "text": "The CGL policy has separate limits of insurance for general liability, fire legal liability, products and completed operations liability, advertising and personal liability, and medical payments."
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    {
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c21",
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      "text": "The page carries the line Form 700 Revised June 14, 2024."
    },
    {
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      "checksum": "bf3488a23770",
      "text": "The guide states that inland marine is a specialized type of property insurance that primarily covers damage to or destruction of your business property while in transport."
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    {
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c23",
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      "text": "The guide states that inland marine insurance can cover a variety of transportation exposures, however it does not cover boating transportation, which is covered under ocean marine insurance."
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    {
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c24",
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      "text": "The guide states that some of the most common types of coverage offered are accounts receivable insurance, consignment insurance, equipment floaters (i.e., contractors equipment), installation floaters, motor truck cargo insurance, trip transit insurance, and valuable papers (records) insurance."
    },
    {
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c25",
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      "text": "The guide states that standard perils in inland marine may include fire, lightning, windstorm, flood, earthquake, landslide, theft, collision, derailment, overturn of the transporting vehicle, and bridge collapse."
    },
    {
      "claimId": "ca-cdi-commercial-insurance-guide#c26",
      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c26",
      "checksum": "0df9a7acc76d",
      "text": "The guide states that commercial property insurance can protect a business owner from some of the most common losses experienced by business owners, such as property damage, business interruption, theft, liability, and worker injury."
    },
    {
      "claimId": "ca-cdi-commercial-insurance-guide#c27",
      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c27",
      "checksum": "ec0687b19cfe",
      "text": "The guide states that an aggregate limit of liability is in force for the general liability, fire legal liability, advertising and personal liability, and medical payments claims."
    },
    {
      "claimId": "ca-cdi-commercial-insurance-guide#c28",
      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c28",
      "checksum": "023e3982bd63",
      "text": "The guide states that when total claims for all these areas exceed a stated annual aggregate limit of liability, the policy limits are exhausted and no more claims will be paid from the policy for the duration of the policy period."
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    {
      "claimId": "ca-cdi-commercial-insurance-guide#c29",
      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c29",
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      "text": "The guide states that there is also a separate aggregate limit of liability in force for products and completed operations liability claims."
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    {
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c30",
      "checksum": "2916605bb9c0",
      "text": "The guide defines split limits as the technique for expressing limits of liability coverage under a particular insurance policy by stating separate limits for different types of claims growing out of a single event or combination of events."
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    {
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c31",
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      "text": "The guide states that if a building is not insured to value the insured can be subject to a monetary penalty at the time of a loss, commonly referred to as coinsurance, and defines coinsurance as an insurance clause that defines the amount of each loss that the company pays according to the amount of insurance carried, divided by the amount of insurance required."
    },
    {
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c32",
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      "text": "The guide states that the California Insurance Guarantee Association (CIGA), which protects claims with admitted insurers, does not apply to surplus line insurers."
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    {
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      "canonicalUrl": "https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide#c33",
      "checksum": "615e51ca0f01",
      "text": "The guide states that while surplus line companies are not licensed by the CDI, they do have to go through an approval process that includes providing evidence of minimum capital and surplus requirements."
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      "title": "What is a claims-made retroactive date?",
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      "kind": "Question",
      "title": "What is the difference between general liability and professional liability?",
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      "kind": "Question",
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    {
      "kind": "Question",
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    {
      "kind": "Coverage",
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    {
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    {
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  "citation": {
    "text": "California Department of Insurance. \"Commercial Insurance Guide (CDI Form 700).\" unknown. https://www.insurance.ca.gov/01-consumers/105-type/95-guides/09-comm/commercialguide.cfm (retrieved 2026-08-31).",
    "viaThisSite": "BestInsurance Research source record ca-cdi-commercial-insurance-guide, content version 2026.08.31. https://bestinsuranceresearch.com/sources/ca-cdi-commercial-insurance-guide",
    "note": "Cite the underlying source when you can. Cite this record when you are describing our synthesis or our claim list."
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}