01.Core Concepts

The current ISO version of the BOP is a special form that insures property on an open-perils basis Business personal property, including property in the insured’s care, is also covered A peak season provision provides for a temporary increase of 25 percent of the amount of insurance when inventory values are at their peak Some additional coverages include debris removal, collapse, and interruption of computer operations A standard deductible of $500 per occurrence applies to all property coverages