Definitions for "Businessowners policy"
Keywords:  mercantile, cpp, medium, bop, apartment
a commercial package policy designed primarily for small and medium-sized apartment, office and mercantile risks.
A policy similar to the Special Multi-Peril policy. It provides Broad Property and Liability coverage in a single contract and is designed for small and medium-sized mercantile, office, or apartment risks. (The SMP policy can also be made to provide broad coverage, but additional endorsements are required.)
A policy that combines property, liability and business interruption coverages for small- to medium-sized businesses. Coverage is generally cheaper than if purchased through separate insurance policies.