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 ?
The suite of small commercial insurance products available to them includes Businessowners Policy, Workers' Compensation, Commercial Auto, Umbrella Liability, Directors and Officers (D&O), Employment Practices Liability (EPLI), Builders' Risk and Errors and Omissions (E&O), as well as several types of surety bonds.
BenefitMall complements AgentSecure's core offering of small commercial products, including Businessowners Policy, Workers' Compensation, Commercial Auto and Umbrella Liability, as well as Directors and Officers (D&O), Errors and Omissions (E&O), Employee Practices Liability (EPLI), Builders' Risk and Bonds.
Through InsureZone, agents can obtain quotes and bind coverage within one business day -- (within minutes for some carriers) -- on Businessowners Policy (BOP), Workers' Compensation, Commercial Auto and Umbrella Liability.
The first product distributed via ESP is SAFECO's Businessowners policy (BOP) -- the foundation of most small-business owners' insurance packages.
The lineup of small commercial products includes Businessowners Policy, Commercial Auto, Umbrella Liability, Directors and Officers (D&O), Builders Risk, Errors and Omissions (E&O) and Bonds.
The lineup of small commercial products includes Businessowners Policy, Workers' Compensation, Commercial Auto, Umbrella Liability, Directors and Officers (D&O), Employment Practices Liability (EPLI), Builders' Risk, Errors and Omissions (E&O) and Bonds.
The businessowners policy (BOP) is the first product available on WesCom, but Westfield Group ultimately plans to expand the new system to support all personal and commercial lines.