Business owners package (BOP) insurance programs were first developed in the 1970s and typically address the property and general liability insurance needs of small businesses. Within the healthcare industry, this “package” policy is typically purchased by medical doctors operating a private practice because it provides a more affordable alternative to securing two mono-line insurance policies.
In addition, the coverage offered under a BOP policy is usually more comprehensive and flexible, enabling the insured to add such provisions as business income, employee dishonesty, fiduciary liability, hired and non-owned automobile liability, extra expense, and electronic data processing.
