Harleysville Retools Businessowners Policy under StarAdvantage Banner

May 22, 2008

Harleysville Insurance has introduced its first product under its new StarAdvantage banner. The new Businessowners Program (BOP) is for smaller, property-driven risks in hundreds of business classes. Market segments targeted for this new offering include habitational, mercantile, office, service/processing and wholesalers.

The StarAdvantage BOP has been introduced in Harleysville’s home state of Pennsylvania, as well as in New Jersey. The company says it plans product launches in its remaining states throughout 2008 and into early 2009.

The new program includes class-specific enhancements for funeral directors, printers, professional offices and veterinarians, as well as a options that can further tailor coverage to the specific needs of clients within the core business classes typically written by the company’s agents. Higher liability limits — up to $2 million per occurrence and with a $4 million aggregate — also are available with the new product.

Coverage for actual loss of income during a business interruption, equipment breakdown, spoilage caused by power outage, utility services;time element, and water backup and sump overflow are automatically included in the policy. Other built-in coverages for small businesses are automatic additional insured status for managers or lessors of premises, and for lessors of leased equipment. Optional endorsements include ordinance or law, flood and earthquake (select markets), e-commerce, and professional liability (six classes of business), among others.

At the same time that it is launching the new BOP, the company also is introducing a new automated commercial lines policy administration system called accessHarleysville//CLSM.

Source: Harleysville Insurance

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