Main Street America Launches New Business Owners Policy

The Main Street America Group launched its new Main Line Business Owners Policy (BOP) property and liability product. The insurer also launched Main Street Station for commercial lines quoting and policy issuance system in Maine, Rhode Island, Vermont and South Carolina.

The product and system are now available in 18 of the states where Main Street America writes commercial lines business.

The product features 10 programs — condominium associations, garages, restaurants, light manufacturing, wholesale, retail, services, offices, apartments and contractor programs — with nearly 500 eligible classes.

In addition, the product features more deductible and business income choices as well as coverages such as identity theft, product withdrawal (manufacturing and wholesale), condo directors and officers, garage keepers broad form and many new optional coverages, he added.

“Despite a challenging economy, our Main Line BOP continues to sell very well in the markets where we have introduced the product,” said Henry Pippins, Main Street America’s vice president of commercial lines. Pippins said Main Street America has seen a rise in new written premium in all of Main Line BOP’s programs, particularly contractors, retail and restaurants.

Quoting and new business applications can be submitted for Main Line BOP via the company’s new Main Street Station for commercial lines quoting and processing system that features real time rating, automated underwriting and business submission, all from one central place.

From late 2008 through 2009, Main Street America implemented Main Line BOP and Main Street Station for commercial lines in Arizona, Connecticut, Georgia, Maryland, Massachusetts, Michigan, Nevada, New Hampshire, New York, North Carolina, Pennsylvania, Tennessee, Utah, and Virginia.

Source: The Main Street America Group, www.msagroup.com.

Topics New Markets