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Business Owners Policy (BOP)

Home Business Owners Policy (BOP)

Addressing the Insurance Needs of Small Businesses

A Business Owners Policy (BOP) is a package of insurance policies that combines general liability and property insurance, often with business interruption protection, into one product.

Business owner’s policies may be right for your organization if:

  • You make less than $10 million in annual revenue
  • Have fewer than 100 employees
  • and Operate a physical location

A Policy Customized to Your Needs

A business owners policy can be customized to fit specific industry needs. Most insurers allow customization of BOP by adding optional coverages, such as:

  • Cyber Liability, including data breach
  • Crime
  • and Other specialized coverages

Within the healthcare industry, individual practitioners and small medical offices often purchase a package policy. A BOP can provide an affordable alternative to securing separate insurance policies.

What a BOP does not cover?

The following types of insurance are excluded as part of a standard business owner’s policy:

  • Professional Liability: A crucial insurance coverage for medical providers, professional liability protects against malpractice and negligence claims. 
  • Workers Compensation: Legally required for most employers, workers comp covers injuries and illnesses employees experience on the job.
  • Employment Practices Liability: Employment practices liability insurance (EPLI) is needed to protect against lawsuits due to claims of harassment, discrimination, and wrongful termination.
  • Commercial Auto: Commercial automobile insurance is necessary to cover the costs of auto accidents when your organization uses company-owned vehicles for business.

While those coverages are excluded from a standard Business Owners Policy (BOP), they may be able to be added as optional coverages depending on the insurer. Chivaroli & Associates can help your organization find and tailor the right BOP or secure additional standalone coverages for your unique risks.

Modern office building which could contain medical suites.

Call us today at  800.240.2448  or Email us at mail@chivaroli.com

Contact Us

Chivaroli and Associates Insurance Services is a full-service brokerage firm specializing in the custom-design and placement of insurance and alternative risk funding solutions for your healthcare organization.

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Contact Us Today

Address:
200 North Westlake Blvd., Suite 101
Westlake Village, CA 91362
Phone:
805-371-3680
E-mail:
mail@chivarolitr.wpengine.com

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