In commercial policies, who generally has control of the policy?

In commercial insurance policies, the first named insured typically has control of the policy. This designation usually refers to the individual or entity listed first on the policy declaration page. This party has specific rights and responsibilities, including the authority to make changes to the policy, cancel it, and manage claims. The first named insured often holds a significant stake in the business covered by the policy, which provides them with the benefit of having control over decisions that affect the insurance coverage.

It's important to note that while other named insured parties may have some rights under the policy, they do not generally share the same level of control. This hierarchy of control ensures that there is a designated party who can make decisive actions regarding the policy, which can be crucial for timely adjustments and effective management of coverage. Understanding the role of the first named insured is vital for agents and policyholders alike, as it influences how policy-related decisions are made and communicated.