NEXT Insurance, a digital small business insurer, is expanding its insurance offerings for small businesses with the launch of commercial umbrella/excess liability in 41 states, as well as the expansion of liquor liability coverage in seven additional states.
According to the announcement, commercial umbrella/excess liability insurance includes the same coverage, conditions, and exclusions as its underlying general liability policy, and also provides coverage when that policy’s per-occurrence or aggregate limits are exhausted.
NEXT has confirmed that this expansion will be launched on a direct and agents channel, clearly demonstrating the company’s commitment to its customers.
At the same time, the company’s umbrella/excess liability coverage will also sit over customers’ general liability policies and provide higher limits for coverage offered in that policy. As a result, this will ensure that small businesses can obtain the protection they need from a potentially “catastrophic loss” due to a lawsuit.
NEXT highlighted that customers will be able to add this optional coverage to a general liability policy post-purchase to easily modify their insurance needs as their business needs continue to grow.
In addition, NEXT is also furthering its commitment to restaurant small business owners with the expansion of liquor liability coverage to seven addition states including Illinois, Michigan, Massachusetts, Missouri, Minnesota, Utah, and Iowa.
Liquor liability is a crucial protection for small businesses that manufacture, sell, or serve alcoholic beverages. Available as a part of NEXT’s general liability coverage, NEXT’s liquor liability covers losses resulting from the intoxication of customers and is designed for small businesses such as cafés, diners, pop-up restaurants, and fine dining.
Jack Ramsey, NEXT Insurance Vice President of Agent Business, commented on the launch: “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.
“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.”
This news follows NEXT’s recent integration with Ivans Download for General Liability and Workers’ Compensation policies.
