Hiscox Introduces Business Owners Policy for Small Businesses

NEW YORK, June 1, 2011 /PRNewswire/ -- Hiscox, the first insurer offering U.S. small businesses the ability to purchase insurance direct online and in real time, today announced the launch of their Business Owners Policy (BOP) offering in Arizona, California and New York, with coverage in additional states planned for later this year.

The business owner's insurance package (BOP) combines general liability insurance with business property coverage to address typical risks faced by small businesses. The BOP offering provides businesses with customized and flexible coverage options for risks including commercial property, office buildings, commercial crime, electronic data loss and hired or non-owned vehicles liability.  BOP coverage through Hiscox starts at only $500 a year and home-based businesses can qualify for discounts of up to 10%.

"The addition of the Business Owners Policy complements our existing suite of insurance products for small business owners," said Kevin Kerridge, small business insurance expert from Hiscox. "The BOP coverage offers small business owners additional protection for their business equipment and property, as well as additional exposures small business owners commonly face."

According to the U.S. Chamber Institute for Legal Reform, small businesses are projected to incur $152 billion in tort liability costs in 2011. Despite what many home-based business owners believe, a homeowner's policy will not always provide the proper coverage in the event of a small business loss.

Designed specifically for the small business and home-office market, Hiscox small business professional liability insurance coverage (errors and omissions insurance) is customized for a range of knowledge-based professions including IT, management consulting, business consulting and marketing. Hiscox offers professional liability insurance quotes direct and online in real-time along with other liability insurance products such as general liability insurance.  Hiscox's licensed insurance advisors are solely focused on helping small businesses with their insurance needs.

Hiscox's online offering is backed by experienced, licensed advisors based at the Hiscox Small Business Insurance Customer Service Center in Virginia Beach, VA. The service center is open Monday through Friday from 8:00 AM until 10:00 PM EDT.

To learn more about Hiscox Small Business Insurance, visit http://www.hiscoxusa.com/small-business-insurance/ or speak with a Hiscox licensed advisor at (888) 202-3007 (Monday through Friday, 8:00 AM – 10:00 PM EDT). Hiscox is also now on Twitter, Facebook and LinkedIn.

Read more news from Hiscox Small business insurance.

About Hiscox in the U.S.

Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE: HSX). There are three main underwriting parts of the Group – Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox International includes operations in Bermuda, Guernsey and the USA. Hiscox ASM Ltd, Hiscox Underwriting Ltd and Hiscox Syndicates Ltd are authorized and regulated by the UK Financial Services Authority. The ability of syndicates at Lloyd's to do business in the USA and its territories is restricted as they are not US-based insurers.

Hiscox Inc., a Delaware corporation headquartered in New York, d/b/a Hiscox Insurance Agency in CA, is a licensed insurance intermediary for admitted and surplus lines business. Hiscox Inc. underwrites on behalf of, and places business with, Hiscox Insurance Company Inc., other domestic insurers, and syndicates at Lloyd's (www.lloyds.com). Hiscox Insurance Company Inc. is a Chicago, IL domiciled insurer which is admitted or licensed to do business in all 50 states and the District of Columbia.

Inquiries as to insurance, products or services, other than those offered by Hiscox Small Business Insurance, should be directed to an insurance agent or broker licensed to conduct business in the relevant U.S. state. For further information about an insurer's ability to do business in the USA and US territories please contact a licensed agent or broker for advice.

This communication provides general information on Hiscox's products and services only and, except with regard to Hiscox Small Business Insurance, is not intended to be, and does not constitute, a solicitation of business by syndicates at Lloyd's from or in respect of the USA or U.S. territories. The information contained herein is not a part of an insurance policy, and may not be used to modify any insurance policy that might be issued. In the event the actual policy forms are inconsistent with any information provided herein, the language of the policy forms shall govern.

About Hiscox Small Business Insurance

Hiscox is the first company in the U.S. to offer insurance coverage for professional services businesses with 10 employees or less direct, online, and in real-time. We provide professional liability, general liability and business owners insurance, underwritten by Hiscox Insurance Company Inc..  We also offer workers' compensation insurance provided by EMPLOYERS®.  Hiscox Insurance Company Inc. is rated 'A' (Excellent) by A.M. Best Company.

Quote and buy customized coverage online at hiscoxusa.com/small-business-insurance/ or by calling a Hiscox licensed advisor at (888) 202-3007 (Mon-Fri, 8:00 AM -10:00 PM EDT).

About Employers Holdings, Inc.

Employers Holdings, Inc. (NYSE: EIG) is a holding company with subsidiaries that are specialty providers of workers' compensation insurance and services focused on select small businesses engaged in low-to-medium hazard industries. The company, through its subsidiaries, operates coast to coast. Insurance is offered by Employers Insurance Company of Nevada, Employers Compensation Insurance Company, Employers Preferred Insurance Company, and Employers Assurance Company, all rated A- (Excellent) by A.M. Best Company. Additional information can be found at: http://www.employers.com.

Disclaimer

Coverages are subject to underwriting and may not be available in all states.  As of December 31, 2010, Hiscox Insurance Company Inc. had admitted assets of $67,630,365 and policyholders surplus of $55,085,042. Total liabilities were $12,545,323 (inclusive of $1,968,156 in  reserves) and paid up capital stock was $4,200,000.

SOURCE Hiscox