[S068]

special multiperil policy (SMP)
A package policy for commercial accounts containing four principal sections of coverage: property, liability, crime and boiler and machinery. The basic policy contains declarations, general provisions and definitions applicable to these sections. The specific coverage requirements for each section are handled by separate forms. The types of accounts eligible for this policy can be grouped in eight categories: motel/hotel, apartment house, office, mercantile, service, industrial and processing, institution, and contractors. This policy is rarely used. it has been replaced in most jurisdictions by the commercial package policy (CPP).