What it does

OP 00 01 is the coverage form of ISO's Capital Assets Program, also called the Output Policy. ISO files it as its own program, with its own declarations (OP DS 01 and supplemental declarations OP DS 02), endorsements numbered OP, state amendatory endorsements and separate rules and rating revisions; carriers adopt the 04 13 edition. A farm version exists as the Agricultural Capital Assets form (AG 00 01).

Who needs it

Typically larger or multi-location commercial accounts for which carriers prefer a single output-style property form to the building-by-building commercial property coverage part.

Quoting and selling notes

Compare the program with a commercial property (CP) quote line by line: limits structure, sublimits, valuation and deductibles can differ. Ask for a full statement of values by location. Check for the program's spoilage, utility services and cyber exclusion endorsements.

Before presenting it

Ask the carrier for the specimen and walk the insured through covered property, causes of loss, exclusions, valuation, deductibles and sublimits before relying on this summary.

How it fits

Capital Assets Program endorsements change only the provisions they name in OP 00 01; the rest of the coverage form and its declarations (OP DS 01, OP DS 02) continue to apply. When presenting a quote, list each OP endorsement with its schedule entries (locations, limits, deductibles) and compare the package with the equivalent commercial property (CP) forms if the insured is weighing both programs.

Related forms

OP DS 01, OP DS 02, OP 04 05, OP 10 30, OP 10 31, AG 00 01, CP 00 10.