What type of coverage does Francis have if his commercial property policy provides named-peril coverage?

Named-peril coverage in a commercial property policy means that the policy specifically lists the perils covered, as opposed to providing coverage for all perils except those specifically excluded. The Basic Form is a type of named-peril coverage that typically covers a limited set of perils, such as fire, theft, and vandalism. This means that Francis's policy is giving specific protection for only those perils explicitly mentioned in the policy documents.

In contrast, other forms such as Special and Broad Form provide more extensive coverage. The Special Form covers all perils except those expressly excluded, while the Broad Form includes more named perils than the Basic Form but is still limited compared to the Special Form. The Universal Form is not a standard designation in commercial property coverage and may be less commonly recognized. Hence, when Francis's policy specifies named-peril coverage, it most directly correlates to Basic Form coverage due to its defined limitations.