businessowners policy (BOP)
A package policy that provides both property and liability coverage for eligible
small businesses. BOPs are written on special coverage forms
that are generally very similar to their monoline property and liability form
counterparts, but they typically have some unique features that make them especially
advantageous for businesses that qualify. Both the American Association of Insurance
Services (AAIS) and the Insurance Services Office, Inc. (ISO), offer BOP programs for use by their member insurers. Also, many insurers have their
own BOP programs.
Links for IRMI Online Subscribers Only:
CPI XIII.B