small business market News

The Smaller the Small Business, the Bigger the Insurance Discontent: J.D. Power

Not all small businesses are the same when it comes to customer satisfaction with their commercial insurance. There are actually widening satisfaction gaps among small businesses of different sizes, according to the J.D. Power 2017 U.S. Small Commercial Insurance Study. …

AIG, Hamilton, Two Sigma to Launch Small-Medium Business Insurance Joint Venture

American International Group, Bermuda-based Hamilton Insurance Group and affiliates of hedge fund firm Two Sigma Investments said they have agreed to create a technology-enabled insurance platform for sales to the small to medium-sized enterprise (SME) market. The announcement said the …

MetLife Auto & Home Launches Commercial Auto Insurance in Select States

MetLife Auto & Home has introduced its first commercial automobile policy. The product is now available in Illinois, Indiana and Ohio, with more states planned in the near future. The commercial auto coverage is an addition to MetLife Auto & …

Nationwide Launches New Online Quoting System for Small Business Agents

Nationwide is launching FastPath, a quicker commercial quoting system for insurance agents serving small-business clients. Features of FastPath include: Faster quoting with an average of 80 percent fewer screens Streamlined technology that saves time Automatic acceptance of 60 percent of …

ACE Launches Small Business Online Service Portal

ACE Commercial Risk Services (ACE CRS), the small commercial specialty lines business of ACE Group, has launched its small business ACE CRS Producer Portal. It provides client access through the new online portal, which gives ACE CRS’ small business clients …

Marsh Acquires South Carolina-Based Technology Provider Dovetail Insurance

Marsh has signed a definitive agreement to acquire Dovetail Insurance, a provider of insurance technology services tailored to the U.S. small commercial market. Terms of the transaction, which is expected to close in the third quarter, were not disclosed. Based …

ACE Westchester Extends Its Product Recall Insurance to Small Businesses

ACE Westchester has launched ACE Recall Plus for Small Business, a product that offers product recall coverage and crisis management services to the small business market segment. The move follows an increase in the frequency and cost of product recalls …

Travelers Adds Cyber Protection Tailored to Small Businesses

Small businesses may not think they are at risk for cybercrime, but almost 72 percent of the 855 data breaches worldwide analyzed by Verizon’s forensic analysis unit were at companies with 100 employees or less*. However, a questionnaire by Travelers …

Agents Say Insurers Out of Touch with Needs of Small Businesses

Insurance agents and brokers think that their insurance carriers may be out of touch with what the small business segment needs. For one, carriers have been busy coming out with new products and coverage enhancements for small businesses, but agents …