Summary: The Insurance Services Office (ISO) businessowners program is a package policy offering property and liability coverage for certain groups of commercial insureds. The program may be used to insure a variety of business enterprises. It is directed towards "main street" commercial insureds who otherwise would find an insurance package comprised of the Building and Personal Property Coverage form, (CP 00 10 10 12); Commercial General Liability form, CG 00 01 04 13; Equipment Breakdown Protection Coverage Form, (EB 00 20 01 13); and Business Income (and Extra Expense) Coverage Form, (CP 00 30 10 12), which would provide unnecessary coverage at an unaffordable price for the size and complexity of their business operations.

The forms have undergone many revisions since they were first introduced. BOP coverage was made up of a general conditions form (BP 00 09 01 97), a standard or special property part (BP 00 01 01 97 or BP 00 02 01 97), and a businessowners liability part (BP 00 06 01 97). The standard property coverage form (BP 00 01 97) provided named perils coverage; the special property coverage form (BP 00 02 01 97) provided special perils coverage. Each form provided both mandatory and optional coverages. Liability coverage was mandatory and was provided by the liability coverage form (BP 00 06 01 97). Mandatory form BP 00 09 01 97 contained the conditions.

Now, however, ISO has revised the businessowners program. Forms BP 00 09 01 97, BP 00 01 01 97, BP 00 02 01 97, and BP 00 06 01 97 were withdrawn in 2002. The contents of these forms are incorporated into forms BP 00 03 01 06 and BP 00 03 01 10, as well as the latest revision, BP 00 03 07 13. Form BP 00 03 is written on a special causes of loss basis; the form can be converted to named perils coverage by endorsement.