GUARD Insurance Group has begun offering businessowner’s policy (BOP) coverage in Georgia. This new line complements the company’s traditional specialty – workers’ compensation insurance for small- to medium-sized accounts. In addition, commercial umbrella liability policies are available to BOP customers. The new products will be sold through an existing network of contracted independent agents and brokers, producers can contact GUARD about a possible appointment because new opportunities will be available in 2011.
GUARD’s BOP utilizes the Insurance Services Office (ISO) policy form but with increased limits, coverage extensions, and price discounts incorporated. Accounts with a per-location combined building and business personal property value of up to $8.5 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 on a case-by-case basis.
GUARD currently offers a BOP and commercial auto and umbrella in Pennsylvania, New Jersey, and South Carolina. The BOP and umbrella/excess are also available in Maryland, New York, and Massachusetts. Over the next several years, GUARD intends to systematically introduce a complement of property and liability policies (i.e., the company’s branded BizGUARD Plus product) in other states.
Source: GUARD Insurance
Topics Georgia
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