Businessowners Policy

(redirected from Businessowner's Policy)

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 ?
Berkshire Hathaway GUARD Insurance Companies offers a national footprint with a growing list of insurance products, including: Workers' Compensation, Businessowner's Policy, Commercial Package, Commercial Auto, Professional Liability, Disability, Homeowners, and both Commercial and Personal Umbrella.
Coverages include commercial property, general liability, workers' compensation insurance, commercial auto, employment practices liability, cyber liability, disability, paid family leave, businessowner's policy, medical malpractice, and professional liability.
According to the company, this new package product has been designed to complement its current Businessowner's Policy by targeting insurance needs faced by larger, more complex operations or businesses with many exposures.
GUARD offers a national footprint with a growing list of insurance products, including: workers' compensation, property/liability via a businessowner's policy, commercial auto, commercial umbrella, professional liability, disability, homeowners, and personal umbrella.
The ISO businessowner's policy (BP 00 03) is less restrictive.
The new package product is designed to complement the company's current businessowner's policy by addressing the insurance needs of larger, more complex operations or businesses with multiple exposures.
Specifically, the Company provides Businessowner's Policy (BOP), Commercial Umbrella/Excess, and Commercial Auto coverage in select states.
The new package product has been designed to complement the company's current businessowner's policy by addressing the insurance needs of larger, more complex operations or businesses with multiple exposures, said Executive Vice President Lyle Hitt.
In 2009, GUARD began offering a multi-policy small business solution in New York that included Workers' Comp as well as a Businessowner's Policy (BOP) and Commercial Excess coverage.

Full browser ?