Property 1

This comprehensive course is designed to train new underwriting team members on the essential knowledge, processes, and system skills required to work confidently with Commercial Property (CP) policies at Greenwood.

You’ll start by learning what Commercial Property insurance is, what it covers, and what it excludes, with a detailed look at each coverage component — from Building coverage and Business Personal Property (BPP) to Business Income with Extra Expense, Equipment Breakdown, Food Spoilage, and optional endorsements. You’ll also explore how valuation methods (Replacement Cost vs. Actual Cash Value), Causes of Loss forms (Basic, Broad, Special), and Coinsurance provisions affect underwriting, pricing, and claims.

From there, you’ll master policy structure concepts such as endorsements, loss payees, lienholders, and how standardized applications (ACORD 125 and 140) provide the data needed for underwriting decisions. You’ll also learn the foundations of property rating, including COPE data (Construction, Occupancy, Protection, Exposure), Total Insurable Value (TIV), protection class, construction types, and geographic risk factors like catastrophe zones.

The final modules take you inside Greenwood’s real-world workflow — understanding the role of an MGA/MGU in property placement, and navigating the BM Tec system from quote to bind. You’ll follow step-by-step procedures, learn how to run replacement cost valuation reports, spot potential compliance errors, and understand how accurate data entry and eligibility checks protect both the carrier and the insured.

By the end of this course, you will be able to:

• Explain the scope, limitations, and triggers of Commercial Property coverage
• Match real-world loss scenarios to the correct coverage part or endorsement
• Apply valuation methods, Causes of Loss, and coinsurance logic to scenarios
• Identify when optional endorsements or additional coverage are necessary
• Correctly complete and interpret ACORD 125 and 140 forms
• Evaluate COPE data and apply the correct property rating basis
• Understand MGA/MGU authority and responsibilities in property underwriting
• Complete the BM Tec quoting and binding process without missing key steps

This course blends property insurance fundamentals, underwriting logic, and operational workflows, ensuring you can go from learning to doing in a single structured program. Quizzes, examples, and real-world case studies will prepare you to handle live submissions with accuracy and confidence.