BOP

Since starting an independent agency with his wife about a decade ago, Shane Page says small businesses and the owners who run them are the “building blocks” of the business.

Property-casualty insurance is the core product for small business owners, but Chubb is now going above and beyond the standard offering to better protect more than 5 million small businesses that operate in the U.S.

In the BOP market, agents will need to keep an eye on the small technology services area—and how these companies’ business needs complicate the BOP equation.

BOP rate fluctuations tend to be minimal in the absence of major catastrophes. Instead of pricing, the biggest BOP changes in the next 12-18 months will involve coverage clarifications.

Sam Zamloot moved to the agency side after working for three insurance companies over a 25-year period. Now, his background in loss control and marketing helps him succeed as a BOP producer.

BOP pricing might be sticking to the status quo. But moving forward, don’t be surprised if your commercial clients want their BOPs to incorporate more than standard fare.

ACE Commercial Risk Services, the small business unit of ACE Group, unveiled a new BOP that combines mainstream commercial lines products with specialty coverages.