Business Owner’s Policy (BOP)
BOP provides protection against many of the risks commonly associated with being in business, such as property and equipment damage, customer injuries, and defense in the event of a related lawsuit.
With BOP, you’ll prevent routine incidents from spiraling into costly (even business-ending) disasters. For example, if a customer slips and falls, BOP provides coverage for medical bills—and defense in the event of a lawsuit. If a fire, theft or other covered disaster strikes, BOP provides coverage for computers, furniture and other property damages.
Armed with Colonial’s affordable BOP, your business will have coverage in the event of :
- Injury to a third-party (not resulting from your services) and related medical bills.
- Liability resulting from damage to someone else’s property.
- Liability for loss of a client’s electronic data in certain professions (as a result of damage to equipment).
- Actions of temporary workers
- Damage to business equipment, such as computers, office furniture, and other office property.
Value Added: Cyber Insurance
If BOP is your first purchase of insurance from Colonial, we are pleased to include $50,000 of Basic Cyber Liability Insurance with your policy. This coverage provides you with expert breach response services in the event of a cyber breach, mitigating damage and ensuring that obligatory investigation and notification procedures are implemented. Protection against lawsuits and regulatory actions are also covered.