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Bop Buyer's Checklist
BOP BUYER'S CHECKLIST Dear (Customer Name...Does your present policy cover your liability against non-owned automobiles us...

...u have mastered the many details of BOP, business interruption, SMP, BAP and C...lassifications, standard exceptions, general inclusions, general exclusions, classification wordin...

...____________% _____________% SMP & BOP _____________% _____________% ________...l written business plan and have you generally met the objectives you have set...

...% _____________% SMP & BOP _____________% _____________% ________...l written business plan and have you generally met the objectives you have set...

...received my business owners policy (BOP) renewal nine months late. That’s a lo...c coverages as Employment Practices Liability Insurance, Equipment Breakdown, ...

...UK, and Ireland. Digital tools: BOP 2.0 AI-powered underwriting (launched ...iscovered when a claim is filed and liability is contested between parties. Fi...

... Mix of Business - Property & Casualty Lines Previous Year Current Year Forecast Fire & Allied ___% ___% ___% Marine ___% ___% ___% General Liability ___% ___% ___% Crime/Fidelity/Glass ___% ___% ___% SMP & BOP ___% ___% ___% Commercial Auto ___% ___% ___% Workers Comp ___% ___% ___% Personal Auto ___% ___% ___% Homeowners ___% ___% ___% All Other Lines ___% ___% ___% Total 100.0 % ... $ _____ $ _____ Gross Commission $ _____ $ _____ $ _____ 2. Estimated Agency Mix of Business - Property & Casualty Lines Previous Year Current Year Forecast Fire & Allied ___% ___% ___% Marine ___% ___% ___% General Liability ___% ___% ___% Crime/Fidelity/Glass ___% ___% ___% SMP & BOP ___% ___% ___% Commercial Auto ___% ___% ___% Workers Comp ___% ___% ___% Personal Auto ___% ___% ... % Homeowners ___% ___% ___% All Other Lines ___% ___% ___% Total 100.0 % 100.0 % 100.0 % 3. Estimated Agency Loss Ratio Previous Year Current Year Personal Lines ___% ___% Commercial Lines ___% ___% Life/Health ___% ___% 4. Total Number of: Personal Lines Accounts ____ Personal Lines Policies ____ Commercial Lines Accounts ____ Commercial Lines Policies ____ Life/Health Accounts ____ Life/Health Policies ____ 5. Commercial Accounts - Five Largest - Written ...

...rything from writing homeowners and BOPs to doing notary bonds.' Identify ...rage because they involve no public liability, Everhart notes. Avoiding ar...

... an issue. But regardless of what happens in the surety market, Ward will still be writing other types of coverage. In my area, we have to be all things to all people, ' he says. We have to be everything from writing homeowners and BOPs to doing notary bonds. Identify Needs The handwriting was on the wall, says Cynthia Regnier, CIC, president of Regnier & Associates in Austin . In 1983 and 84, everybody was talking about niche markets, and how an agency would need to develop niche markets ... they are for more conventional property and casualty lines, too. One added expense is industry conventions. Seven years ago, I had no idea what a convention expense was, ' Regnier says. Now, we attend several firemen's and EMS conventions a year. We generally take three people-myself and two other producers-and that's very expensive. But we've seen a good return on that investment. The people in this field like to see you, slap you on the back and buy you a beer. The best advertising is word-of-mouth, and ... conventions are one way to get that. Regnier recently added two more dbas to her agency-Municipal Services Agency of Texas and Ambulance Insurance Services of Texas-after CIGNA opened two new markets: municipalities with less than 10,000 people and privately owned ambulance companies. Nobody wants to mess with small municipalities, but after Glatfelter designed a program for them, ' she says. We think this will let us pick up a few of the fire departments and emergency organizations that have to be insured through their municipalities, too. That is where our network ...

... in the policy. When interviewing prospective clients, take the time to explain the provisions in the existing policy. After getting the account and delivering the policy, review them again, and repeat the process on every renewal. If you're switching from a CPP to a BOP, you might already have a competitive advantage; taking the time to explain this to the prospect or client makes the sale a lot easier. Eliminating coinsurance also simplifies the process. Whenever you do this without costing your client a lot of money, try to ... used, so that they can confirm that the criteria are accurate. If you're not an appraiser, emphasize this in writing. Make it clear that your information is only to be used as a guide. Tell the client that it's a generic approach to valuation using generally accepted standards and provided by an insurance company or valuation service. Also, be sure to include a statement on the valuation calculation form that you do not guarantee or represent it to be accurate, and that it should only be used as a guide. It ... to have your most technically competent people use their time and experience in the best way. Another area that should be discussed with respect to renewals is restrictive endorsements. A case in point is the pollution exclusion, which has evolved from the 1960s versions of the General Liability policies, in three main phases over the years: No contamination or pollution exclusion Accidental contamination or pollution coverage only (no occurrence coverage, with accident generally defined as a sudden and unforeseen event causing damage) Total exclusion on all contamination and pollution Even though most ...