small business insurance News

Sompo Global Risk Solutions Forms Small Business Team in U.S., Mexico

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has formed a new Sompo Global Risk Solutions (GRS) team offering insurance products to smaller businesses in the U.S. and Mexico, including its industry vertical …

Chubb Adds Small Business Coverage for Food Service Industry to Digital Platform

Chubb has added small business insurance to cover risks faced by the food service industry to its digital platform – the Chubb Marketplace, which features a suite of products for businesses with up to $30 million in revenue. According to …

Chubb to Partner with National Association of Women Business Owners

The National Association of Women Business Owners (NAWBO) has partnered with Chubb to provide NAWBO members with small business insurance resources, including education, insurance products and services generally reserved for global corporations, including Chubb’s Cyber Enterprise Risk Management policy. According …

Young Small Businessowners Don’t Like Insurance Agents. Uh, Not Really.

Patricia Ross, Raphael Strumlauf and Kate DeNeveu each have at least one thing in common: They’re generally happy with their business insurance. Each owns a business at the downtown pedestrian mall in Charlottesville, Va. They’re all in their early ’30s …

Analysis: Warren Buffett Champions an Inferior Product in THREE Policy

Warren Buffett, often ahead of the curve, sounded like a disrupter in a 2004 shareholder letter. Fifteen years ago, Buffett wrote, “Insurers have generally earned poor returns for a single reason: They sell a commodity-like product. Policy forms are standard, …

Vindati Platform Looks to ‘Delight’ Brokers Serving Small-Medium Businesses

There will soon be a new specialty insurance site that promises to quicken and simplify transactions for U.S. insurance brokers who are serving small and medium sized businesses. Vindati, a New York-based managing general agency (MGA), will be offering brokers …

Digital Workers’ Comp Agency Pie Insurance Enters 3 More States

Digital agency Pie Insurance has begun selling its low-cost small business workers’ compensation insurance policies online in Colorado, Louisiana and Texas. That brings the total states for Pie to seven as in March it began selling in Illinois, Georgia, Tennessee …

How to Succeed in Today’s Small Business Insurance Market

The small business market is big. The U.S. small commercial market represents about one-third of the total commercial lines market and generates between $99 billion and $103 billion in direct written premium, according to a 2016 McKinsey & Co. report. …

Small Businesses Hampered by Uninsured Damage After 2017 Hurricanes: Fed Reserve

Small businesses in the United States struggled with uninsured damages and lost revenue following a record-breaking year of hurricanes and wildfires, according to a Federal Reserve survey published on Tuesday. The report by the Dallas, New York, Richmond, and San …

The Hartford to Acquire Foremost’s Commercial Lines Business

The Hartford has agreed to acquire Foremost Insurance branded small commercial lines business from Farmers. The Hartford is acquiring the renewal rights on $200 million in small commercial lines premium sold through about 5,000 independent agents and brokers. The business …