Digital small business insurer NEXT Insurance has unveiled its latest expansion strategy, enhancing its insurance portfolio for small enterprises.
The announcement follows NEXT Insurance’s integration with Ivans Download for General Liability and Workers’ Compensation policies. The appointment of Jack Ramsey as Vice President of Agent Business further demonstrates NEXT Insurance’s commitment to delivering superior digital experiences for both agents and customers.
The company has launched commercial umbrella/excess liability coverage in 41 states, along with an extended coverage for liquor liability in seven additional states.
The newly introduced commercial excess/umbrella insurance package offers the same coverage, terms, and exclusions as the underlying general liability policy. It comes into play when the limits of the policy’s per-occurrence or aggregate limits have been exhausted.
This extension, available through both a direct channel and agents, underscores NEXT Insurance’s commitment to serving customer needs while ensuring a seamless experience for agents.
The umbrella/excess liability coverage from NEXT Insurance extends over the general liability policies of its customers. This elevated coverage ensures that small businesses are protected against substantial losses resulting from lawsuits, offering a safeguard against potentially catastrophic financial setbacks.
Customers now have the option to add this supplementary coverage to their general liability policy after purchasing, allowing them to tailor their insurance to align with their evolving business requirements. Often, umbrella/excess liability coverage is mandated by contractual obligations, such as a construction project demanding higher liability limits or landlords necessitating umbrella/excess liability policies for businesses relocating to new premises.
Jack Ramsey, Vice President of Agent Business at NEXT Insurance, (pictured) said the company’s motivation behind launching this coverage. He stated, “We’re launching umbrella/excess liability coverage to help entrepreneurs thrive. As businesses grow, their liability insurance needs change, and as a carrier, we want to make sure we’re able to continue to support our customers’ growth.”
Ramsey added, “We’re confident that this highly-requested umbrella/excess liability offering will address the demand we’ve seen from both customers and agents who require this coverage for contractual obligations, and we are excited to be able to offer this expansion ourselves with the aim of being a one-stop-shop for our small business customers.”
