The Business Owners Policy (BOP) is a combination of business property and liability protection specifically designed to meet the insurance needs of small and mid-size businesses. Your B&W advisor will help you fine-tune your BOP with the options that make sense for your line of business. Save money and eliminate coverage gaps with a business owners policy that includes:
Building and Business Property Insurance
- Repair/Replacement Costs
A business property policy will help cover the financial impact of an insured loss on a business. If your property is damaged beyond repair, your policy will cover the replacement of those important elements.
Depending on the type of loss or severity, your inventory will be either repaired or replaced.
- Business Interruption
Would you be able to continue to pay your employees if you experience a loss that leaves you unable to run your business for two months? Business interruption coverage mitigates those worries. The likelihood that you can get back to regular business after a loss is unfortunately not always as quick as you may think. Business Interruption covers your income, expenses, and other important aspects to keeping your business running.
- Recovery Time
If your business experiences a loss and must close, you’ll want to open as soon as you can. It may take time to acquire essential contents for your business, ultimately adding to the downtime of your business. The right policy will help to ensure that your business suffers the least amount of downtime to get you back up and running.
Business Liability Insurance
Commercial general liability insurance protects you and your business against claims for bodily or personal injuries, advertising liability, as well as property damage to third parties arising from your operations or products or occurring on your business premises.
Cyber insurance, also known as cybersecurity insurance, is a type of business liability insurance that protects your business against cyber security risks and data breaches. Cyber insurance can help restore employee and customer identities, recover compromised data and repair damaged computers and networks, whether your business is the victim of a data breach, social engineering, ransomware or phishing attack.
Directors and Officers Insurance
Directors and officers (D&O) liability insurance is insurance coverage intended to protect individuals from personal losses if they are sued as a result of serving as a director or an officer of a business or other type of organization. It can also cover the legal fees and other costs the organization may incur as a result of such a suit.
For further information, please contact our Commercial Division and speak with one of our business insurance specialists.