Which of the following statements about the liability coverage in a BOP is FALSE?

In a Business Owners Policy (BOP), liability coverage is generally provided on an "occurrence" basis rather than a "claims-made" basis. This means that the policy will cover events that occur during the policy period, regardless of when a claim is reported, as long as the incident happened while the policy was active.

The statement that coverage is provided on a "claims-made" basis is misleading because most BOPs are structured to cover incidents based on when they occurred, not when the claim is filed. This distinction is crucial in understanding how liability coverage functions under a BOP and helps clarify the type of coverage provided to the insured.

In contrast, the other statements accurately reflect aspects of liability coverage in a BOP. Coverage for bodily injury and property damage is indeed included, which is fundamental to the policy. Separate aggregate limits can be applicable in certain situations, and coverage does extend to both products and ongoing operations liability, making the nature of BOP coverage more comprehensive than what might be indicated by a "claims-made" format.