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businessowners policy (BOP)

The businessowners policy, commonly referred to as a BOP, is a package policy that provides both property and liability coverage for eligible small businesses.

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Additional Information

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.

Related Terms

A package policy is a combination policy providing several different coverages.