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📋 '''Multiline policy''' is an [[Definition:Insurance policy | insurance policy]] that bundles coverage for two or more distinct lines of business — such as [[Definition:Property insurance | property]], [[Definition:General liability insurance | general liability]], [[Definition:Commercial auto insurance | commercial auto]], and [[Definition:Crime insurance | crime]] — into a single contract issued by one [[Definition:Insurance carrier | carrier]]. In the [[Definition:Commercial insurance | commercial insurance]] space, the most recognized example is the [[Definition:Business owner's policy (BOP) | business owner's policy (BOP)]] for smaller enterprises, while larger and more complex programs may take the form of a [[Definition:Commercial package policy | commercial package policy]] (CPP) or a bespoke [[Definition:Manuscript policy | manuscript]] multiline program tailored by an [[Definition:Underwriter | underwriter]] for a specific account.

⚙️ Structurally, a multiline policy consolidates what would otherwise be several standalone policies under unified [[Definition:Policy wording | policy wording]], a single [[Definition:Policy number | policy number]], and typically one [[Definition:Policy period | policy period]]. Each line of coverage retains its own [[Definition:Limit of liability | limits]], [[Definition:Deductible | deductibles]], and specific conditions, but the policy's [[Definition:Declarations page | declarations page]] and general conditions apply across all sections. From the insurer's perspective, underwriting a multiline program requires coordination among specialist teams — the property [[Definition:Underwriting | underwriter]], the casualty underwriter, and perhaps a [[Definition:Specialty insurance | specialty lines]] expert — though increasingly, insurers deploy integrated platforms that allow a single underwriter to assess and price the entire package. In markets outside the United States, similar concepts exist: in the UK and European markets, commercial combined policies serve a comparable function, while in parts of Asia, composite policies offer property-casualty bundles under regulatory frameworks that may require different licensing for each line.

💡 Bundling multiple coverages into one policy creates efficiencies that benefit all parties in the insurance value chain. For the [[Definition:Policyholder | policyholder]], it simplifies administration — one renewal date, one set of [[Definition:Premium | premium]] payments, and a single point of contact for [[Definition:Claims | claims]] coordination, which reduces the risk of coverage gaps or overlaps between separate policies. For [[Definition:Insurance broker | brokers]] and [[Definition:Insurance agent | agents]], it streamlines the placement process and strengthens client retention since moving an entire package to a competitor is more complex than switching a single line. For insurers, multiline accounts tend to be stickier and offer diversification benefits in the [[Definition:Underwriting portfolio | portfolio]], since losses in one line may be offset by favorable experience in another. The trade-off is concentration risk: a single policy with broad coverage means a large potential exposure to one insured, making disciplined [[Definition:Aggregation | aggregation]] management and thoughtful [[Definition:Reinsurance | reinsurance]] purchasing essential.

'''Related concepts:'''
{{Div col|colwidth=20em}}
* [[Definition:Commercial package policy]]
* [[Definition:Business owner's policy (BOP)]]
* [[Definition:Monoline policy]]
* [[Definition:Bundling]]
* [[Definition:Commercial combined policy]]
* [[Definition:Manuscript policy]]
{{Div col end}}

Definition:Multiline policy - Revision history

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