Coverage includes general liability and professional liability up to $2 million limits, $5 million per location and $10 million total limits.
PRODUCT: SURE Businessowners Policy (BOP).
COMPANIES: SageSure; SureChoice Underwriters Reciprocal Exchange (SURE).
BEST RATING: A
AVAILABILITY: Appointed agents and brokers only.
FOCUS: SureChoice Underwriters Reciprocal Exchange (SURE), the member-owned insurance company for coastal property protection whose policies are exclusively available through SageSure, recently launched its first commercial insurance product for small and medium-sized businesses in Texas. SURE's business owners policy combines both property and general liability coverage in one package, addressing the most common risks for growing businesses.
Underwritten and distributed by SageSure, SURE's first commercial insurance product arrives at a time when other insurers are restricting coastal capacity in response to the increased frequency and severity of catastrophe losses from hurricanes and extreme winter storms. Earlier this year, SageSure also released a homeowners insurance flood endorsement in Texas.
“We are proud to bring competitive commercial insurance solutions to Texas's business community in partnership with SageSure," said Ed Konar, president of SURE. “Expanding our product offerings is central to our mission to be a source of reliable admitted capacity in coastal regions."
COVERAGE DETAILS: SageSure has a broad appetite for risk, including coastal properties. Coverage includes general liability and professional liability up to $2 million limits, $5 million per location and $10 million total limits. Business interruption is also available on an actual loss sustained or dollar limit basis.
UNDERWRITING: Policies can be bound in under five minutes through SageSure's agent portal. Several key factors are prefilled through third-party data. Discounts are available for bundling with other products and binding early. Not all classes are available in every state.
MINIMUM PREMIUM: $400.
TARGET: SURE's BOP offers coverage for over 300 different types of business classes across eight industries, including habitational, lessors risks, retail, offices, restaurants, wholesale, service and processing, and artisan contractors.
COVERAGE AVAILABILITY: Texas
CONTACT: Gregg Robitaille, commercial sales manager, SageSure; 101 Hudson Street, Ste. 2700, Jersey City, NJ 07302; 877-304-4785.
Will Jones is IA editor-in-chief.