What information is typically included in the common policy declarations of the Commercial Package Policy (CPP)?

The common policy declarations of a Commercial Package Policy (CPP) serve a crucial role in outlining the essential details of the insurance coverage being provided. This portion of the policy includes specific information that directly identifies the parties involved and the timeline of coverage.

The correct answer emphasizes that the declarations include vital details about the insured parties, such as their names and addresses, as well as the effective dates of the policy. This provides both the insurer and the insured with clarity regarding who is covered under the policy and when that coverage begins and ends. This information is fundamental for determining the scope of the insurance and helps mitigate disputes about coverage.

While other elements like coverage terms and conditions, transfer of rights and duties, and claims procedures are all necessary components of an insurance policy, they are typically found in different sections of the policy rather than in the declarations. The declarations specifically focus on the identification and timing aspects that are crucial for both the insurance company and the policyholders.