The Hartford, a property and casualty insurer in the US, has launched enhanced coverage products to serve the needs of its business customers.
The Hartford’s Property Choice product now includes more than 30 new, specialised coverage forms that broaden protections and close coverage gaps, the company said. In order to target specific industries with unique exposures, and to allow business to only pay for coverages they need, many of these are specific.
In addition, the enhanced General Liability Choice product provides built-in coverages that incorporate many enhancements competitors only provide via industry endorsements such as incidental medical malpractice, waiver of subrogation, and unintentional failure to disclose.
The Hartford said its General Liability offering includes an “expansive product suite” consisting of more than 2,800 admitted coverage forms.
The updated product offerings, according to the The Hartford, provide maximum flexibility setting limits, and terms and conditions, enabling a customisable solution, scalability, increased speed to market and less paperwork.
Mo Tooker, The Hartford’s head of middle & large commercial, said, “Our distribution partners and customers spoke, and we listened…Customisable coverage is now easier than ever with our enhanced Property Choice and General Liability Choice products.
“These offerings are a solution for the lower end of middle market all the way up through larger, guaranteed cost accounts. Combine this with our deep specialisation in underwriting, claims and risk engineering services, and doing business with The Hartford has become more efficient and convenient for a variety of industries and exposures.”
Earlier this year, Tarmika, a commercial lines rating solution streamlining small business insurance, partnered with AssuredPartners, an insurance brokerage and independent insurance agency in the US.
AssuredPartners is leveraging Tarmika’s embedded insurance solution ‘Tunnel’ and their agency-based commercial lines comparative rater ‘Bridge’. The company said this will enable their agencies and small businesses to purchase easy, and accessible coverage through a variety of different AssuredPartners driven purchasing methods.
Use of Tarmika’s solutions will also enable the company to meet small business “where they are” whilst providing an easy and convenient experience, AssuredPartnes added.
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