Business owners Policy (BOP)

Question 1

Policy Features are:

Answer 1

1. Prepackaged, stand-alone policy
2. Property and liability coverage in a single contract
3. Small to medium size, low-risk business
4. no coinsurance

Question 2

commercial property covers property other than what?

Answer 2

dwellings and farm

Question 3

residential condominium unit-owners are covered under what policies?

Answer 3

HO and DP

Question 4

3 types of legal entities commonly insured under CGL policies are:

Answer 4

sole proprietors, partnerships, and corporations

Question 5

CGL policies include both a per occurrence and a what?

Answer 5

aggregate limit