Simply Business, AXIS Launch Coverage for Home-Based Small Businesses

September 9, 2020

Simply Business, Inc., a digital insurance agency offering small business insurance policies on behalf of a panel of carriers, will work with AXIS Insurance on a new product intended for U.S. small business owners who conduct business from their homes. The product, to be called AXIS Home Based Business insurance, will offer customized coverage that is designed specifically for home business operations.

The Home Based Business policy will fill gaps left by homeowners’ insurance policies that may not cover commercial losses, and as a result, leave entrepreneurs who run their businesses from home unprotected from a variety of unexpected events that could jeopardize their business.

According to Peter Wilson, CEO, AXIS Insurance, the AXIS Home Based Business insurance product provides businesses with the flexibility to have what they need and nothing they don’t. ”

AXIS Insurance is the specialty insurance business segment of AXIS Capital Holdings Limited.

Simply Business offers small business owners tailored business insurance by offering customers via an online platform. The company began in the United Kingdom and expanded to the United States in 2017. It’s U.S. headquarters is in Boston and the company serves 600,000 customers globally.

AXIS Insurance – the insurance business segment of AXIS Capital Holdings Limited provides property & casualty, professional lines, terrorism, marine, renewable energy, aviation, credit & political risk, environmental, accident & health coverages and other customized insurance.

Products are offered through distribution partners, which include wholesale brokers, retail brokers and designated managing general agents/underwriters (“MGAs”/”MGUs”) in the U.S. and abroad. Coverages are backed by the financial strength and security of the AXIS Insurance Companies.

AXIS Capital, through its operating subsidiaries, is a global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at June 30, 2020 of $5.3 billion and locations in Bermuda, the United States, Europe, Singapore, Canada and the Middle East.

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