Commercial Insurance Series
Businessowners Policy Course
Why you need this course:
Owners of most small and medium-sized businesses face the same kinds and degree of risk and therefore have similar insurance requirements. To meet these needs, insurers offer a businessowners policy (BOP), which is a package policy that combines most of the property and liability coverages needed by small and medium-sized businesses. To help your customers understand how a BOP can protect their assets with core insurance coverages at a reduced cost, you need to understand the eligibility requirements for BOPs, the difference in coverages between most BOP policies and other commercial insurance policies, and how BOPs are rated.
Upon successful completion of all five modules in this course, you should be able to:
- Identify the kinds of businesses that are generally eligible for coverage under a businessowners policy (BOP).
- Compare the property coverages typically contained in a BOP with the direct damage and business income/extra expense coverages available under an Insurance Services Office (ISO) commercial property coverage part.
- Describe the property coverages, in addition to those of the ISO commercial property coverage part, that are commonly included in BOPs.
- Compare the liability coverage typically provided by a BOP with the Commercial General Liability (CGL) Coverage Form.
- Explain how BOPs are rated and why that approach to rating is less complicated than rating comparable coverages in a commercial package policy.
We recommend that you study the modules in the order presented in the course.
Cost: $24 per course (1 Professional Development Hours @ 24 per hour)
Contact Customer Service.