Which of the following statements about commercial property insurance is FALSE?
Explanation
The false statement is that ocean marine policies are designed for land-based commercial buildings. Ocean marine is the oldest line of insurance and covers ships, cargo, freight, and the shipowner's liability — it is not used to insure buildings on land. The other three statements are accurate: the Special form is open-perils, equipment/boiler losses normally need a separate form or endorsement, and a BOP packages property and liability for small-to-mid commercial risks.
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