View this article online: https://www.insurancejournal.com/news/national/2020/03/11/560778.htm
Embroker, Inc., a digital insurance broker, has partnered with CNA to provide a customized business owners policy (BOP) coverage to its business clients.
Embroker is a technology platform that digitizes all aspects of the insurance process and provides customers with customized, data-driven risk reviews. It currently offers two options for BOP coverage with CNA – the CNA Base Connect Policy or ‘Standard’ package, and CNA Connect Choice Extra or the ‘Enhanced’ package. Standard BOP offers a combination of property and general liability coverages specifically designed for small business owners to help address risks to buildings, business income, business personal property, computer equipment, accounts receivable, money and securities, and more.
Enhanced BOP offers additional protection not included in the base policy. This includes higher coverage limits on many risks such as accounts receivables, employee dishonesty, business income, computer equipment, spoilage, ingress/egress, and more.
The launch of Embroker’s BOP program follows the January 2020 launch of the company’s digital Lawyers’ Professional Liability (LPL) product. Commonly known as malpractice insurance or errors & omissions insurance (E&O), Embroker’s new digital LPL product allows law firms to secure and enroll in legal malpractice insurance in 10 minutes or less and at lower premiums by up to 20%.
Embroker was founded in 2015 and is headquartered in San Francisco. It serves businesses with 10 to 1,000 employees and has raised over $42M in funding from leading fintech investors.