Next Insurance Adds 24 States to Its Workers’ Compensation Market Map

October 1, 2020

The digital small business insurer said that the coverage is now available in 30 states overall, increasing its workers compensation reach in the U.S. to more than half the country overall.

“By expanding workers compensation to more than half of the country, Next Insurance is taking another important step in our journey to become the one-stop-shop for all small businesses,” said Sofya Pogreb, chief operating officer of Next Insurance, said in prepared remarks.

Next’s workers’ compensation expansion follows news disclosed Sept. 23 that the company has raised $250 million in new venture capital financing – $631 million to date.

Next’s workers ‘compensation coverage starts at $14 per month. The insurer’s online platform gives business owners a way to obtain an instant quote and explore coverage options. The policies cover medical expenses, loss of income, retraining, permanent injury, and survivor benefits.

Next’s workers’ compensation expansion includes the states of: Alaska, Arizona, Arkansas, Connecticut, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Mexico, Rhode Island, South Carolina, Tennessee, Utah, Vermont, Virginia, and West Virginia. The coverage was already available in Colorado, Florida, Georgia, Illinois, Nevada and Texas. Plans call for expanding the coverage into more states in 2021.

Next Insurance also sells small business coverage for general liability, professional liability and commercial liability and has plans are to add new products in 2021 in accounting, construction, fitness and retail.

Source: Next Insurance

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