Berkshire Hathaway GUARD Adds BOP Product in Illinois

July 29, 2014

Berkshire Hathaway GUARD Insurance Companies (formerly known as GUARD Insurance Group) has begun offering businessowner’s policy (BOP) and umbrella coverage in Illinois.  The company already has an established presence in the state with workers’ compensation premium totaling about $10.5 million in 2013 and is looking to provide a complement to this coverage while continuing to focus on small- to medium-sized accounts.

The insurer’s new BOP utilizes the ISO policy form but with increased limits, coverage extensions, and various price discounts incorporated.  Accounts with a per-location combined building and business personal property value of up to $8.5 million are typically sought.  A broad range of classifications can be written but special targets include: restaurants (full-cooking, limited-cooking, fine dining, and fast food); retail goods and services; professional offices; select artisan contractors; and auto services operations.  A commercial umbrella with limits from $1 million to $5 million can be added.

Berkshire Hathaway GUARD first began writing other lines in Pennsylvania five years ago and has since launched a full family of products under the name of BizGUARD Plus in 12 states.  These new products will be sold through an existing network of contracted independent agents and brokers, but producers are encouraged to contact the company about a possible appointment.

According to Vice President of Sales Dave Simmons, the goal is to offer “one-stop insurance shopping for small- to mid-sized businesses.”

In October of 2012, GUARD Insurance Group was acquired by National Indemnity Co., a wholly owned subsidiary of Berkshire Hathaway.  In 2013, GUARD unveiled a new logo and identity as Berkshire Hathaway GUARD Insurance Companies.

 

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Latest Comments

  • July 29, 2014 at 11:52 am
    silly says:
    Of course a Guard would offer a BOP on the head?
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