X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.” A list of the form’s trigger endorsements follows this analysis. State-specific requirements or unusual coverage needs may require additional, separate  endorsement(s).

This premium content is locked for
Insurance Coverage Law Center subscribers only.

Start a free trial to enjoy unlimited access to the single source of objective legal analysis, practical insights, and news for the insurance industry.

  • Access the most current expert analysis and daily developments across jurisdictions
  • Solve complex research issues with expert tools and intelligence
  • Tap into insurance coverage expert guidance

Already have an account?
For enterprise-wide or corporate access, please contact our Sales Department at 1-800-543-0874 or email [email protected].

ICLC Staff Writer

 

Copyright © 2022 ALM Global, LLC. All Rights Reserved.