Starr Companies is making an overture to the small business market with the launch of a new commercial insurance umbrella liability policy.
The insurer said the new umbrella coverage will complement its Business Owners Policy, and provide policy limits up to $5 million, in $1 million increments. Further coverage extensions to the BOP are coming in the coming months.
“We are focused on developing insurance solutions that meet the needs of small businesses,” Jim Vendetti, executive vice president & chief underwriting officer for Starr Indemnity & Liability Company, said in prepared remarks.
“Many of our existing clients and prospects require higher limits of coverage to address their growing businesses,” Vendetti said. “This new product furthers Starr’s commitment to this segment.”
Starr defines a small business as a company that has up to $15 million in annual sales and as many as 50 employees. It underwrites the company’s small business insurance policies through Starr Indemnity & Liability Company.
Source: Starr Companies