The BOP and Ordinary Payroll
The BOP has been around since the late 70s and over time insurance companies have significantly expanded the eligibility for the program. Buyers beware: there are serious limitations found in some sections of the form:
Did You Know: The BOP limits ordinary payroll to only sixty (60) days maximum recovery following a covered loss
Did You Know: There is no ISO endorsement to extend the ordinary payroll coverage time
Did You Know: That many insurance companies allow the BOP to be written for manufacturing risks which tend to have longer shutdowns and require significant payroll reimbursement. The ordinary payroll limitation could be a determinant to a reasonable Business Income settlement
Laurie Infantino, AFIS, CISC, CIC, CRIS, ACSR, CISR
Insurance Skills Center
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