What is the Definition of Business owners Policy/Bop?
A policy that combines property, liability and business interruption coverages for small to medium-sized businesses. Coverage is generally cheaper than if purchased through separate insurance policies.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Insurance?
What is the Definition of Business owners Policy/Bop?
Check out other definition of insurance terms below:
What is the Meaning of GROSS ANNUITY COST In Insurance Terms?
A monetary amount equal to the present value of future periodic income payments under an annuity contract, calculated on a gross basis, with a specific provision for expense loading. Contrast with Net annuity cost.
What is the Meaning of GROUP INSURANCE In Insurance Terms?
A single policy covering a group of individuals, usually employees of the same company or members of the same association and their dependents. Coverage occurs under a master policy issued to the employer or association.
What is the Meaning of GUARANTEE PERIOD In Insurance Terms?
Period during which the level of interest specified under a fixed annuity is guaranteed.
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