Product Update

ISO Micro-Businessowners Program Discussed in Commercial Property Insurance


This release to Commercial Property Insurance addresses the new Insurance Services Office, Inc. (ISO), micro-businessowners program (micro-BOP) (policy and endorsements).

ISO announced the introduction of its micro-businessowners program in September 2019. As the name suggests, the micro-businessowners coverage form (micro-BOP) is a property and liability insurance package policy that is tailored to meet the needs of very small businesses. This release provides an overview of the micro-BOP eligibility rules and an analysis of the key provisions of the micro-BOP coverage form. Discussions of the 23 micro-BOP endorsements—7 "regular" endorsements and 16 terrorism endorsements—are also provided.

The micro-BOP program will become available for use in April 2020 in a majority of jurisdictions.