View this article online: https://www.insurancejournal.com/news/national/2020/06/23/572967.htm
Hiscox has partnered with Thimble, a short-term liability insurance provider for small businesses, to offer coverage available by the hour, day or month.
The partnership will allow Hiscox to give businesses flexibility, with customers having control of their policy via Thimble’s insurance app that allows them to modify their coverage based on a project’s needs, add additional insureds or pause coverage as necessary.
The Hiscox short-term general liability insurance coverage offers protection against claims by someone else that allege bodily injury or property damage. Short-term professional liability coverage (or E&O insurance) offers protection against claims alleging negligence.
The on-demand insurance coverage is available with an ACORD certificate online. Insureds can also change their limits, add an insured, and more.
According to Kevin Kerridge, executive vice president of Small Business Insurance for Hiscox in the US, small businesses now have a flexible option through Thimble that can adapt to the changing needs of their business.
The two companies are planning further integrations for later this year.
Thimble was founded in 2016 and has since sold over 100,000 policies to small businesses all across America through its app, partner APIs, and broker tools. Thimble is based in New York City and has raised over $29 million in funding from investors including IAC. All commercial general liability and professional liability policies are underwritten by Markel Insurance Co.
Thimble business insurance policies can be purchased on-demand in less than a minute, in rolling monthly increments, by-the-day, or for just one hour. Service providers can add workers, extend coverage, pause or cancel policies directly via the Thimble mobile app.
Hiscox is a global specialist insurer, headquartered in Bermuda.