The Main Street America Group has introduced its commercial product line, featuring its flagship main line business owners policy (main line BOP), to independent agents who represent the super regional property/casualty insurance carrier’s Spring Valley Mutual Insurance Co. and Austin Mutual Insurance Co. throughout the state of Minnesota.
Spring Valley Mutual became an affiliate of Florida-domiciled Main Street America in September 2011 and Austin Mutual became an affiliate of Main Street America in July 2012.
Main Street America’s main line BOP, a property and liability product for small business owners, features broad eligibility, with nearly 500 classes of businesses qualifying for the program.
Main line BOP provides standard BOP coverages, as well as around 50 additional ones. Features include: no waiting period for business income; business income/ordinary payroll coverage for up to 12 months; and generous money and securities coverage.
The small business owners’ insurance product also includes equipment breakdown insurance, as well as employment practices liability and identity theft. A range of endorsements can be added to extend coverage further.
In addition to main line BOP, Spring Valley Mutual and Austin Mutual agents will receive access to Main Street America’s workers’ compensation, commercial auto, and commercial umbrella products later this month.
Main Street America’s independent agent distribution network in Minnesota will quote and issue policies for the new commercial products on Main Street America’s Main Street Station policy processing system. The system features real time rating and automated underwriting, This system also provides agents with the ability to execute “what if” quoting, in which they can change deductibles or other policy features to see its impact on premium.
Minnesota is the 22nd state to receive Main Street America’s main line BOP. The product is now available in Ariz., Conn., Dela., Ind., Ga., Maine, Md., Mass., Mich., Nev., N.H., N.Y., N.C., Okla., Pa., R.I., S.C., Tenn., Utah, Vt. and Va.