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Principles of Risk Management and Insurance, 13th Edition by Michael McNamara, George E. Rejda

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Businessowners Policy (BOP)

A businessowners policy (BOP) is a package policy specifically designed for small- to medium-sized retail stores, office buildings, apartment buildings, and similar firms. There are different BOP policies on the market today. In this section, we discuss the BOP designed by the Insurance Services Office.18 The ISO form provides both property and liability insurance in one policy. The following section discusses only the property insurance coverages; the liability insurance coverages are discussed in the following chapter.19

Eligible Business Firms

A BOP can be written to cover buildings and/or business personal property of the owners of apartments and residential condominium associations; office and office condominium ...

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