small business insurance News

NJM Insurance Adds BOP, Commercial Excess, Umbrella Coverage in New Jersey

NJM Insurance Group is now writing businessowners policies and corresponding excess and umbrella policies in New Jersey. The ProEdge Businessowners Policy provides protection for property and liability risks associated with small businesses. NJM’s commercial excess and umbrella policy can expand …

Serving the Changing Needs of Small Business Post-Pandemic

Among the many changes wrought by the pandemic are those transforming the small business workforce. People have lost their jobs or businesses, with many starting new ventures, working from home or adopting new technologies that keep them in the workforce. …

Done Deal: Bold Penguin Is Now a Subsidiary of American Family

Madison, Wisconsin-based American Family Insurance has closed the deal on acquiring the digital exchange Bold Penguin that serves small businesses. The Bold Penguin technology is used by insurance agents, brokers and other distributors to match, quote and bind policies from …

American Family Insurance to Acquire Small Business Insurtech Bold Penguin

Madison, Wisconsin-based American Family Insurance is acquiring insurtech company Bold Penguin that serves small businesses. The Bold Penguin digital exchange is used by insurance agents, brokers and other distributors to match, quote and bind policies from a range of insurers. …

Next Insurance Expands Workers’ Compensation to 24 Additional States

Next Insurance, a digital insurtech company focused on small business insurance, has expanded its workers’ compensation offering to 24 additional states, bringing the total number of states it offers coverage in to 30. The additional states include: Alaska, Arizona, Arkansas, …

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

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. …

Canadian Insurtech MGA Foxquilt Raises Seed Funding to Develop Small-Biz Platform

A Canadian insurtech focused on small business insurance said it raised $3.5 million in seed financing. Foxquilt, a Toronto-based MGA startup, said the funding will help it become a full-service insurance provider with a self-serve platform. This will enable customers …

Hiscox, Thimble to Offer Short-Term Business Insurance Plans

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 …

Nationwide Insurance Joins Investors in Planck’s $16 Million Financing Round

Nationwide, eyeing the possibilities with technology startup Planck’s small commercial insurance data platform, has joined the company’s latest financing round. Planck recently raised $16 million in a Series B venture financing round led by Team8 Capital. All existing investors including …

Why Small Business Liability Insurance Must Be Advanced Into the Digital Age

Liability insurance as we know it no longer suits a large fraction of today’s and tomorrow’s small-business owners. Brokers and insurers are at a crossroads on how to serve small businesses’ changing needs in the on-demand economy. The industry’s one-size-fits-all …