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Summary: MSO’s Businessowners policy (BOP) is a package policy offering property and liability coverage for certain groups of commercial insureds. MSO offers several versions of the BOP. Form BU 04 01, analyzed here, offers two perils options: Basic Plus Coverage provides open perils coverage on the building and named perils coverage on business personal property. Expanded Coverage provides open perils coverage on both buildings and personal property. MSO also offers Form BU 04 02, not analyzed here, which provides named perils coverage on both buildings and personal property.

The cornerstone of the MSO BOP is a thirty-page booklet that includes in a single document all primary property and business interruption coverages, both causes of loss property options, liability coverage, and the applicable policy definitions and conditions. Several commonly used endorsements, such as water backup coverage, are preprinted in the body of the policy, thereby eliminating the need for separate attachments; each of these endorsements can be triggered simply by listing the endorsement number in the Declarations. MSO refers to these options as “trigger endorsements,” but the form itself does not refer to these options as “endorsements

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