Philadelphia Insurance Companies (PIC) announced the release of its new product offering, “the Business Owners Policy (‘BOP’)” for business professionals.
“BOP provides comprehensive property & liability coverage and is being offered in conjunction with professional liability offered to all types of professionals, especially small law firms, accounting firms and consultants,” said the bulletin. “By purchasing the BOP and professional liability coverage from one company, many different exposures are addressed by a single insurer. This new product is only offered to current professional liability policyholders, or those who plan to purchase professional liability; customers can receive an all in one deal.”
Sean Sweeney, Executive VP commented, “Our BOP product is customized for the professional liability marketplace. It’s competitively priced and makes the buying decision easier for today’s busy professional.”
The BOP coverage is “currently available in AZ, CA, CT, CO, FL, GA, IL, IN, MA, MI, MN, MO, NC, NJ, NY, OH, OR, PA, TX, WA and targets risks which occupy 5,000 square feet or less,” said the PIC announcement. “Limits up to $1,000,000 are available. Additional coverages available by endorsement include Employee Dishonesty, Money and Securities, Mechanical Breakdown, Outdoor Signs, and Interior Glass. “
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