Colonial Surety Launches Next Generation Commercial Liability Protection and Business Owners Policy (BOP) for U.S. SMBs


Continuing its efforts to bridge the protection gap between large and small businesses, Colonial Surety has integrated the two products with Cyber ​​liability insurance

Colonial Surety, a leading direct and digital insurer, today announced the addition of Commercial General Liability and a Business Owner’s Policy (BOP) to its already extensive line of insurance products. for SMEs. Both innovative offerings have basic cyber liability insurance built-in, come with flexible payment options, and can be purchased with multi-year policy terms, helping SMBs lock in rates.

“Since launching our SME-focused digital platform, Colonial Surety has made it easier and faster for SMEs to find, purchase and manage all the insurance and bonding products they need to build businesses. strong, stable and protected,” said Wayne Nunziata, CEO of Colonial Surety. “However, just as hard-working American small business owners continually push the boundaries of their respective industries, we too aspire to match that drive by actively creating products to support and protect every entrepreneur throughout their career journey.”

Colonial Surety’s new Commercial General Liability offering provides insurance coverage for SMBs against claims made by others, including bodily injury, property damage or bodily injury. Their new BOP offering combines Commercial General Liability and Commercial Property Insurance — who financially supports a business in response to loss of property or income, or in the event of structural damage, etc. — in one package.

What makes these two products unique is that Colonial Surety has woven into its base Cyber ​​liability insurance in every product. This means that the owners of these policies will also benefit from the company’s holistic cyber protection, specially designed for SMBs.

Launched as a standalone product last January (2022), Colonial Surety’s Basic Cyber ​​Liability Insurance assists SMBs at every step of incident investigation and breach response – helping them navigate the legally required steps that must be taken in the event of an attack. Other highlights include legal services, access to IT experts, call center services, customer notifications, and more.

Most insurance companies expect policies to be satisfied in one annual premium payment. For these two new products, Colonial Surety allows small business owners to choose from a range of payment schedule options. This eliminates cash flow limits as a barrier to obtaining the coverage needed to provide adequate protection.

Additionally, both products are available through multi-year policy terms which, once chosen, lock in annual rates. To date, these types of insurance have mostly been offered with one-year policy terms, which allows for variations in cost from year to year, which can make budgeting difficult for small business owners. With a fixed rate, small business owners can know their insurance costs for the foreseeable future with certainty.

“Our mission is to provide small business owners with elite, yet cost-effective insurance coverage. By cooking in Cyber ​​liability insuranceoffering flexible payment options and allowing fixed pricing for both of these products, we hope to establish a new, more modern touchstone within the industry,” concluded Nunziata.

To date, both products are available through the company’s digital platform. Learn more here.

About Colonial Bail

Colonial Surety was founded in 1930 and brings deep experience and market expertise to every product and every customer relationship. Colonial Surety gives its clients the assurance that they, their businesses and their customers are protected at all times with the right bonding and insurance products.

Colonial Surety makes it easy for a wide range of industries and professions to purchase the bonds and insurance products they need. Colonial Surety is a direct, digital insurer offering products through an online platform backed by exemplary customer service. The company offers its customers a simple, direct and instant service that simplifies the purchase of insurance and bonds. Colonial Surety is authorized in every WE condition, rated “A” Excellent by AM Bestand listed by WE Treasury as an approved guarantor.

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Erica Schain
Aspect Group

[email protected]

Source: Colonial Security


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