CODE OF VIRGINIA COMMERCIAL MULTI-PERIL INSURANCE (§ 38.2-132) “Commercial multi-peril insurance” is a combination multi-peril policy written under the provisions of § 38.2-1921 insuring risks incident to a commercial enterprise containing any combination of the classes of insurance set forth in subsection A of § 38.2-1902, except insurance on or with respect to operating properties of railroads. HISTORY: 1986, c. 562.