GUARD Insurance Group has begun offering Businessowner’s Policy
coverage in New York.
This new line complements the company’s traditional specialtym, workers’ compensation insurance for small- to medium-sized businesses.
In addition, Commercial Excess Liability policies are available to BOP customers. Although these new products will be sold through an existing network of contracted independent agents and brokers, producers are encouraged to contact GUARD about a possible appointment.
GUARD’s BOP uses the Insurance Services Office (ISO) policy form but with increased limits, coverage extensions, and price discounts. Accounts with a per-location combined building and business personal property value of up to $5 million are typically sought. While a broad range of classifications can be written, special targets include restaurants (full-cooking, limited-cooking, and fast food), retail goods and services, professional offices, and select artisan contractors.
Certain coastal exposures are also considered.
GUARD first began writing other lines in Pennsylvania in the spring of
2008 and has since launched a full complement of products — including a BOP, Commercial Auto, and Umbrella coverage — in the Keystone State, as well as in New Jersey and South Carolina. GUARD currently writes Workers’ Compensation insurance in 25 states plus the District of Columbia. It plans to introduce these products over the next several years in other states within that
In 2008, GUARD wrote approximately $207 million of commercial property and casualty premium for 38,000 accounts.
Source: Guard Insurance Group
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