What it does
BP 20 02 adapts the Micro-Businessowners Coverage Form (BP 00 04) to service businesses. It adds theft as a covered cause of loss for the business property addressed in Paragraph A.1.b. of the coverage form, and adds an exclusion for dishonest or criminal acts (including theft) by the insured, its partners, members, officers, managers, employees (including temporary or leased employees), directors, trustees or authorized representatives, or by anyone to whom the property is entrusted.
Who needs it
Consultants, personal-service providers and other very small service firms eligible for the Micro-BOP.
Quoting and selling notes
- Professional exposures remain excluded under BP 21 03; quote BP 22 02 where the client needs professional liability.
- Employee theft is not covered.
