Business Owners Policy (BOP)

[IRCOS, LLC]

I would welcome comments from underwriters and producers who had been handling BOPs during the last five years. Specifically, I am interested to learn whether the market for BOPs is harder or softer currently, compared to what it was five years ago.

[WildAngel]

I would say much softer/better. 5 years is a long time for the companies to get it right. More companies are writing better BOP type products for better prices.

Broader classification definitions, more classes of business, better products and very competitive pricing are just some of the reasons.

[MrBill]

Sorry to say the soft market is driving prices down to new lows.

[yoyowordup]

I would say it is about the same. Rates were fairly low and stable before 9/11 which was just over 5 years ago.

[CATHIEA]

Rates are unchanged in AZ but classes are still limited. Construction and service classes are really limited or non existant with the prefereds - and then there's the issue of Autoowners with their exclusion of products/completed ops for contractors..... Companies are all out screaming for more BOP business but they all want the same thing (main street business) for the same prices (min prem $500-750). Unfortunately ST Farm ends up writing the doctors office for around $250 that we quoted at $500. Even CNA - who used to have the broadest classes - has scaled back so there's no overlap of service/construction classes available.

[InsuranceLady]

In California, BOP's are REALLY soft now - premiums at an all-time low.
Unfortunately, so is the commission.... :cry