In a commercial package policy, who has the authority to cancel and make changes?

In a commercial package policy, the first named insured typically has the authority to cancel and make changes to the policy. This individual is often the primary entity or person listed on the policy, and they are generally granted specific rights that may not be available to other named insureds.

The first named insured's authority typically includes the ability to make alterations to the coverage, report losses, and handle other administrative tasks related to the policy. This designation is crucial, especially in a commercial context where multiple entities may be insured under a single package policy.

While the insurer has the power to cancel the policy under certain circumstances, such as non-payment of premiums or other breaches of contract, the authority to initiate changes or cancellation at the request of the insured lies predominantly with the first named insured. This distinction is important for policyholders to understand, as it clarifies the chain of decision-making and responsibility within the coverage.