Greetings Goactuary.com! Welcome to my first post!
My question pertains to the differences between the commercial Business Owners Policy(BOP) and Commercial Multi Peril(CMP) and specifically, what drives the differences between the two policies.
Both policies cover property and liability. Why would you purchase one over the other?
Is a CMP policy really one policy? Or is it more along of the lines of all underlying policies, priced and underwriten individually, except that they each qualify for a material discount because there’s another policy.
Till all are one,