(December 2013)

INTRODUCTION

The Insurance Services Office (ISO) OP DS 01–Capital Assets Program (Output Policy) Declarations is a three-page self-contained form that does not have to be attached to IL 00 17–Common Policy Declarations. It can be used alone or as a Supplemental Declarations. OP DS 02–Supplemental Declarations amends the limits that OP 00 01–Capital Assets Program Coverage Form (Output Policy) provides. OP DS 03–Flood Coverage Schedule is used with OP 10 04–Flood Coverage. OP DS 04–Earthquake–Volcanic Eruption Coverage Schedule (Sub-limit Form) is used with OP 10 01–Earthquake–Volcanic Eruption Endorsement (Sub-limit Form).

OP DS 01–CAPITAL ASETS PROGRAM (OUTPUT POLICY) DECLARATIONS

This advisory declarations contains the following information:

General Information

• Company Name Area is for the name of the insurance company that provides coverage.
• Mailing Address is the first named insured's mailing street address or Post Office Box number.

Note: This is the address the insurance company uses to mail important policy-related information.

• Named Insured is to identify all named insureds. A separate endorsement may be needed if more space is needed.
• Producer Name Area is for the name of the agent or broker that produces the business.

• Policy Period states the inception and expiration dates of coverage. It begins at 12:01 A.M. standard time at the named insured's mailing address.
• Business Description has a space to briefly describe the insured business.

Agreement

This section states that the insurance company provides the insurance that OP 00 01 includes in return for the named insured paying the premium, subject to its terms and conditions.

Property Limits of Insurance

This section has spaces for two separate entries that can be made:

• Blanket Building and Business Personal Property

A blanket limit of insurance is entered if this method is selected.

• Scheduled Location/Coverage Method

A limit is not entered if this is method selected. OP 14 01–Scheduled Location is attached and the limits are entered on it.

Property Coverage Options

This section lists several optional property coverages that are available. Any, all, or none can be selected.

• Actual Cash Value.

This changes the property valuation from replacement cost to actual cash value.

• Automatic Increase Coverage Percentage

OP 00 01 automatically provides a 2% increase. A higher percentage must be selected and entered if more than 2% is desired.

• Replacement Cost–Mobile Equipment

This changes the valuation for mobile equipment from actual cash value to replacement cost.

• Installment Sales Property–Dual Interest

This changes the installment sales coverage provided from a single interest coverage that protects only the named insured to a dual interest coverage that protects both the named insured and the property’s purchaser.

• Limited Fungi, Wet Rot and Dry Rot Coverage

This provides coverage above the standard $15,000 limit that OP 00 01 provides. If the Separate Schedule Location Option is marked yes, a limit is entered for each described location instead of entering one limit for the increased limited fungi, wet rot, or dry rot coverage.

Business Income and Extra Expense/Dwelling Loss of Use Limits of Insurance

Two separate entries can be made in this section:

• Blanket Business Income and Extra Expense Limit

A blanket limit of insurance is entered if this method is selected.

• Scheduled Location/Coverage Method

A limit is not entered if this is method selected. OP 14 01–Scheduled Location is attached where the limits are entered.

Business Income Coverage Options/Extension

This section lists optional time element options and extensions. One and only one of the first three options must be selected. The option selected determines how coverage applies.

• Business Income and Extra Expense including Rental Value
• Business Income and Extra Expense other than Rental Value
• Rental Value and Extra Expense

These options are available but are not mandatory.

• Number of Days for Extended Business Income Coverage

Note: This is the total number of days, not simply the number of days beyond 90 days.

• Number of Days for Limited Fungi, Wet Rot, and Dry Rot Coverage–BI & EE Revised
• Coinsurance Percentage

An entry is required unless maximum period of indemnity or monthly limit of indemnity below is selected.

Business Income and Extra Expense Valuation Options

This section has three separate entries that can be selected:

• Maximum Period of Indemnity
• Monthly Limit of Indemnity

Note: Options are 1/3, 1/4, and 1/6.

• Agreed Value

Note: A limit must be entered in the space provided when this option is selected.

Miscellaneous

This section has spaces available for the following entries:

• Endorsements Effective as of Policy Period Inception Date

This section lists all endorsements that are part of this policy when it is issued.

• Description of Fine Arts in Transit.

Note: Fine Arts in Transit are excluded unless they are described in this section.

• Description of Valuable Papers and Records.

Note: Valuable Papers and Records considered irreplaceable property are excluded unless they are described in this section.

• Mortgagee and Loss Payee Name
• Mortgagee and Loss Payee Mailing Address
• Other
• Total Premium at Policy Inception

OP DS 02–SUPPLEMENTAL DECLARATIONS

This supplemental declarations amends the limits that OP 00 01 provides. If selected, the limit of insurance for the following coverages is per occurrence.

Note: These limits replace the limits for the same coverage that OP 00 01 provides. They are not in addition to them. Some of these coverages are sub-limits of the limit of insurance. Regardless of the limit on this schedule, it remains a sub-limit to the overall policy limit.

• Accounts Receivable
• Below Ground Water and Backup of Sewers and Drains
• Bulk Liquid Tank Storage

Note: This coverage has an occurrence limit and a separate annual aggregate limit.

• Business Personal Property off Covered Location
• Consequential Loss
• Debris Removal Additional Limit of Insurance
• Employee Theft
• Fine Arts
• Fire Department Service Charge
• Fire Extinguishing Systems Expense
• Forgery or Alteration
• Fur, Fur Garments, and Garments Trimmed with Fur
• Installment Sales Property
• Inventory and Appraisal Expense
• Jewelry, Watches, Watch Movements, Jewels, Pearls, Precious and Semi-Precious Stones, Bullion, Gold, Silver, Platinum, and Other Precious Alloys or Metals
• Limited Coverage For Fungi, Wet Rot, and Dry Rot
• Money and Securities
• Money Orders and Counterfeit Money
• Ordinance or Law–Demolition Cost
• Ordinance or Law–Increased Cost of Construction
• Personal Effects
• Pollution Cleanup and Removal
• Property in Transit
• Reward Payment
• Stamps, Tickets, and Letters of Credit
• Valuable Papers and Records
• Business Personal Property Temporarily in Portable Storage Units
• Electronic Data
• Time Element Coverages
• Interruption of Computer Operations
• Food Contamination
• Food Contamination Advertising Expense
• New Acquired Locations

OP DS 03–FLOOD COVERAGE SCHEDULE

This schedule is required when flood coverage is provided. OP 10 04–Flood Coverage also must be attached.

Related Article: OP 10 04–Flood Coverage

OP DS 04–EARTHQUAKE–VOLCANIC ERUPTION COVERAGE SCHEDULE (SUB-LIMIT FORM)

This schedule is required when earthquake coverage is provided. OP 10 01–Earthquake–Volcanic Eruption also must be attached.

Related Article: OP 10 01–Earthquake-Volcanic Eruption Endorsement (Sub-limit Form)