Business Owners Package policy, “BOP,” contains most of the insurance coverage needed by most small businesses. While these policies are not standard, there is great variation from one insurance company to another; there are certain common elements.

The basic BOP offers business property both building and contents and liability insurance protection for the operation of your business. This liability protection will generally include both the operation of your business, at its established location, and liability from your products and completed operations.

Some, but not all of the policies, will also offer business income and extra expense protection after an insured loss. BOP policies do not contain all the coverage needed by a small business. Notably, they do not cover any workers’ compensation, professional liability or business vehicle coverage.

 Your BOP can cover many areas needed for your small business:

Officer’s liability insures corporate directors and officers against claims, usually by stockholders, alleging loss arising from mismanagement.

Outside directorship liability policy is available, as supplementary protection, to assure sufficient limits for the exposure created when a company’s director, officer or employee serves in an outside director position at its request.

Officer’s liability insurance is available for: