BOP Coverage and Business Income, Extra Expense, and Debris Removal Claims
June 14, 2010
Our insured's building and stocks of merchandise covered under a BOP policy were damaged by fire. He did not purchase business income, extra expense, or debris removal. No limits were indicated in the policy and no additional premium was charged for these items. Are we liable for such losses sustained, in addition to the damage to the building and contents?
Guam Subscriber
On the standard ISO BOP policy, business income, extra expense, and debris removal are additional coverages that are included in the policy. So, if the insured's losses meet the criteria for those coverages, then yes, you are responsible for paying for those losses, too.