Ask any business owner about their insurance policy, and they will say that aside from the limits and premiums, it is standard. This assumption has the potential to cause serious problems when it comes time to make a claim. Most business owners fail to understand that the policy they see year after year contains “conditions” and requirements for coverage to trigger like they think it will. You, the business owner, must closely follow the rules the carrier provides or they can deny coverage for a claim.
The conditional insurance policy is a contract, with obligations from the insurance carrier and from the policy holder (the business). The business owner has requirements that must be adhered to if they wish to file a claim.