What is a business owner's policy (BOP)?

A business owner's policy (BOP) is specifically designed as a package insurance policy that combines multiple coverages tailored for small businesses. This type of policy typically includes essential coverages such as property insurance, general liability insurance, and sometimes additional protections like business interruption insurance.

The purpose of a BOP is to simplify the insurance process for small business owners by bundling necessary coverages into one policy, often at a lower cost than purchasing individual policies separately. This makes it an attractive option for small businesses that need comprehensive protection while also managing their insurance expenses effectively.

In contrast, the other options do not accurately describe a BOP. It is not limited to large corporations or just an individual health insurance policy. Moreover, while workers' compensation may be crucial for businesses, it is generally a separate requirement outside of what a BOP includes. Thus, B is the correct answer as it encompasses the essence and practical benefits of a business owner's policy.