Final answer:
The correct answer is Option 1: Declarations. The Declarations page in a Commercial General Liability policy outlines important details such as the insured individual or company, policy period, premium, and the limits of coverage among other information.
Step-by-step explanation:
The Commercial General Liability document that includes details such as the named insured and address, the policy period and the premium, as well as miscellaneous information about the insured and the coverage limits is known as the Declarations page, also referred to as the dec page.
This page is often the first part of an insurance policy and is designed to provide a clear and concise snapshot of the insurance provided. It does not include the policy’s Definitions, Conditions, or Exclusions; these are separate sections within the policy that address other important aspects such as the meanings of key terms, the responsibilities of both the insurer and the policyholder, and what the policy does not cover, respectively.