Business Owners

Question 1

Transfer of rights and duties under the policy

Answer 1

A condition that prohibits the insured from transferring the rights or duties under the policy without written consent of the insurance company

Question 2

A condition that allows the insurer to inspect the insured’s premesis at any reasonable time during the policy period

Answer 2

Inspection and surveys condition

Question 3

Hired and non owned auto liability

Answer 3

Provides coverage for liability that comes from the use or maintenance of a hired or unowned auto.
Coverage purchased separate and scheduled on the endorsement

Question 4

Personal Property removed to protect from further loss for how many days?
Additional coverages of BOP

Answer 4

30

Question 5

Pollutant cleanup and removal coverage in BOP has a limit of

Answer 5

10000 in 12 months

Question 6

Examinations of books and records condition

Answer 6

Insured rights to examine during the policy and up to 3 years after

Question 7

Medical expenses of others (medical, dental, hospital and funeral) will be paid for up to?

Answer 7

1 year

Bodily injury by accident on or next to insureds premesis or operations

Question 8

BOP designed to fit the needs of?

Answer 8

Small to medium business

• single package policy of property and liability
• favorable rates due to low risk business

Question 9

Business that qualify for BOP

Answer 9

-Office building 6 stories or less 100000 sq ft
-retail or service business 3,000000 or 25000sq ft
-convenience stores with 50% or less of gas sales
-fast food 7500 sq ft
Beer and wine 25%