JERSEY CITY, N.J., October 22, 2012 — ISO announced today revisions to its widely used Businessowners (BOP) product.
Some of the many coverage enhancements introduced to the ISO Businessowners coverage form include:
Some of the newly introduced optional endorsements for use with the ISO BOP Program include:
Additionally, ISO is introducing a series of class-specific endorsements addressing the specialized coverage needs of photographers, including an endorsement providing makeup and hairstyling coverage and another that provides worldwide coverage for photography equipment.
“We’re committed to keeping our Businessowners Program a desirable industry-leading insurance solution,” said Kevin Thompson, president of ISO Insurance Programs and Analytic Services. “We continually monitor emerging issues, regulatory and judicial activity, and societal trends for potential impact on our products and services. We also consider feedback provided by our customers. These updates are the end result of those efforts.”
The Businessowners Program revision has been approved by regulators in 33 jurisdictions and is pending in 10 more. The program updates submitted in the ISO filings will be available for insurer use beginning in July 2013.
Since 1971, ISO has been a leading source of information about property/casualty insurance risk. For a broad spectrum of commercial and personal lines of insurance, the company provides statistical, actuarial, underwriting, and claims information; policy language; information about specific locations; fraud-identification tools; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace. ISO is a member of the Verisk Insurance Solutions group at Verisk Analytics (Nasdaq:VRSK). For more information, visit www.verisk.com/iso and www.verisk.com.
MWW Group (for ISO)
MWW Group (for ISO)