NEW YORK, /PRNewswire/ — Hiscox USA today announced the expansion of its small business general liability insurance, now available direct and online to professional services businesses with 10 employees or less in California, Massachusetts, Maryland and New Jersey, in addition to 19 other states and the District of Columbia.
The availability of Hiscox general liability insurance in these additional markets will allow more small businesses, including start-ups, to protect themselves against common risks including claims that they damaged client offices and equipment or injured or slandered others. Small businesses are projected to incur $152 billion in tort liability costs in 2011 alone1, and Hiscox Small Business Insurance provides the protection they need against covered claims and frivolous lawsuits. The general liability insurance offering is in addition to the lines of coverage currently available direct and online in those states, which include professional liability insurance (E&O) and workers’ compensation insurance, through EMPLOYERS® (in MD and CA).
Designed specifically for the small and home-office market, Hiscox Small Business Insurance is customized for a range of knowledge-based professions including IT, management consulting, tax preparation, bookkeeping and marketing. Tailored general liability coverage starts at less than $30 a month, making it an affordable and efficient way for small businesses to get coverage compared to more traditional channels. Home-based businesses can receive discounts of up to 10% on Hiscox general liability insurance, reflecting their reduced risks. There are no deductibles for claims covered under these policies and coverage protects small businesses for work from direct staff, in addition to temporary staff and subcontractors.
Since the offering launched in November, small business owners in 23 states and across 23 different industries have protected their businesses with Hiscox Small Business Insurance. In addition, a business owners policy (BOP) will also be available in the second quarter of 2011. This policy combines general liability insurance with coverage for business property, for example buildings, office contents and loss of electronic data.
“Hiscox’s general liability insurance offering can be customized to meet the needs of small businesses in different industries,” said Kevin Kerridge, Head of US Direct, Hiscox USA. “The continued expansion of Hiscox’s offering provides small businesses across the country with affordable, direct coverage that protects them from common risk exposures.”
Hiscox’s online offering is backed by trained licensed advisors based at the Hiscox Small Business Insurance Customer Service Center in Virginia Beach, VA. The service center is open Monday – Friday from 8:00 AM until 10:00 PM EST.
Notes
1 Source: U.S. Chamber Institute for Legal Reform , July 2010
Source: PRNewsWire