Businessowners Policy

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Businessowners Policy

An insurance policy that provides coverage in case some event causes a business to relocate or temporarily close. It also provides coverage for damage to the property owned by the business. For example, if an office floods and becomes unusable, a businessowners policy will replace the profits the company would have made during the time the company was closed and also will pay to repair the damage from the flood.
References in periodicals archive ?
In the beginning it will offer businessowners policies (BOP) that fulfill the general liability insurance and property insurance coverage requirements of small businesses.
Decision Research Corporation (DRC), announces its DecisionMaker Suite now supports businessowners Policies (BOP), providing policy administration support for this line of business.
This general availability of businessowners policies to DecisionMaker Suite provides the latest testament to how quickly DRC can bring a viable solution to market.
PHILADELPHIA, June 4, 2012 /PRNewswire/ -- Decision Research Corporation (DRC), a leader in rating and policy processing software and services to the Property & Casualty Insurance Industry, announced today its DecisionMaker (TM) Suite now supports Businessowners Policies.
This general availability of Businessowners Policies to DecisionMaker (TM) Suite provides the latest testament to how quickly DRC can bring a viable solution to market.
In addition, Ohio agents started using e-CLAS(TM), our full-featured commercial lines policy processing system, to issue businessowners policies (BOPs).
Development of a full-featured commercial lines policy processing system remains on track for delivering a full version of the system for businessowners policies to Ohio, the company's largest premium volume state, by the end of 2005.
Ease of doing business becomes a reality, giving agents the ability to quote, underwrite, issue, and endorse Businessowners Policies (BOP) from their offices.
Through approximately 1,600 independent agents, Old Guard Insurance Group markets farmowners, homeowners and businessowners policies, as well as personal and commercial automobile, workers compensation and commercial multi-peril coverages.
Through approximately 1600 independent agents, Old Guard Insurance Group markets farmowners, homeowners and businessowners policies, as well as personal and commercial automobile, workers compensation and commercial multi-peril coverages.