small business market News

Aon to Grow Partnership with CoverWallet for Small-Medium Business Market

Global insurance broker Aon is partnering with digital insurance platform CoverWallet to serve clients in Australia. The parties also said they are in the process of expanding this partnership to additional geographies, including the United States. The Aon platform run …

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. …

The Smaller the Small Business, the Bigger the Insurance Discontent: J.D. Power

Not all small businesses are the same when it comes to customer satisfaction with their commercial insurance. There are actually widening satisfaction gaps among small businesses of different sizes, according to the J.D. Power 2017 U.S. Small Commercial Insurance Study. …

AIG, Hamilton, Two Sigma to Launch Small-Medium Business Insurance Joint Venture

American International Group, Bermuda-based Hamilton Insurance Group and affiliates of hedge fund firm Two Sigma Investments said they have agreed to create a technology-enabled insurance platform for sales to the small to medium-sized enterprise (SME) market. The announcement said the …

MetLife Auto & Home Launches Commercial Auto Insurance in Select States

MetLife Auto & Home has introduced its first commercial automobile policy. The product is now available in Illinois, Indiana and Ohio, with more states planned in the near future. The commercial auto coverage is an addition to MetLife Auto & …

Nationwide Launches New Online Quoting System for Small Business Agents

Nationwide is launching FastPath, a quicker commercial quoting system for insurance agents serving small-business clients. Features of FastPath include: Faster quoting with an average of 80 percent fewer screens Streamlined technology that saves time Automatic acceptance of 60 percent of …

ACE Launches Small Business Online Service Portal

ACE Commercial Risk Services (ACE CRS), the small commercial specialty lines business of ACE Group, has launched its small business ACE CRS Producer Portal. It provides client access through the new online portal, which gives ACE CRS’ small business clients …

Marsh Acquires South Carolina-Based Technology Provider Dovetail Insurance

Marsh has signed a definitive agreement to acquire Dovetail Insurance, a provider of insurance technology services tailored to the U.S. small commercial market. Terms of the transaction, which is expected to close in the third quarter, were not disclosed. Based …

ACE Westchester Extends Its Product Recall Insurance to Small Businesses

ACE Westchester has launched ACE Recall Plus for Small Business, a product that offers product recall coverage and crisis management services to the small business market segment. The move follows an increase in the frequency and cost of product recalls …

Travelers Adds Cyber Protection Tailored to Small Businesses

Small businesses may not think they are at risk for cybercrime, but almost 72 percent of the 855 data breaches worldwide analyzed by Verizon’s forensic analysis unit were at companies with 100 employees or less*. However, a questionnaire by Travelers …