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Posts tagged with business insurance - business insurance

Market Spotlight - Program Brokerage Corporation (PBC) Partners with HISCOX NOW®

Author ErinCarlson , 2/13/2018
Program Brokerage Corporation (PBC) is pleased to partner with HISCOX NOW® to offer a quick and easy way to quote and bind small business insurance online, in minutes. Unlike most companies, PBC is one of the select few Wholesalers that have a partnership with HISCOX NOW® and have access to their portal online. 

Through this offering, PBC and Hiscox are providing general liability, professional liability and property insurance through brokers and directly online to a wide range of professional services businesses and artisan contractors. These are admitted products written through Hiscox Insurance Company Inc., rated 'A' (Excellent) by A.M. Best.

Will Buying Commercial Insurance Direct Impact Independent Insurance Agencies?

Author PhillipFloresCM , 12/10/2014

I recently received a piece of direct mail from my personal insurance provider, which is a major carrier, trying to solicit my business insurance. After some digging I found that most carriers are now targeting consumers to buy commercial insurance direct and online—eliminating the independent insurance agents all together. Some of the big carriers offer quotes on their website while others refer you to one of their agents or a call center.

I got curious, how many business owners would actually consider purchasing their commercial insurance coverage direct and why?

After some research I found a study done by Deloitte in July 2013.

Of 751 respondents:
  • 51% said they are very likely or somewhat likely going to purchase business insurance online directly from the insurer.
  • 49% of respondents said they were not likely going to buy online or direct from the carrier.
  • Of the 51% that would purchase direct and online, ¼ of the individuals would expect a discount of 10% or less and 1/3 of the individuals would expect a discount between 11% and 15%.
  • The most popular line of service to be purchased online, of the respondents, is 67% general liability.

With the sudden interest in purchasing commercial insurance direct and online what are your thoughts for the industry? Will it affect independent insurance agents? Will consumers purchase online?

Below is the letter I received in the mail.


Will Buying Commercial Insurance Direct Impact Independent Insurance Agencies?

Author PhillipFloresCM , 12/10/2014

I recently received a piece of direct mail from my personal insurance provider, which is a major carrier, trying to solicit my business insurance. After some digging I found that most carriers are now targeting consumers to buy commercial insurance direct and online—eliminating the independent insurance agents all together. Some of the big carriers offer quotes on their website while others refer you to one of their agents or a call center.

I got curious, how many business owners would actually consider purchasing their commercial insurance coverage direct and why?

After some research I found a study done by Deloitte in July 2013.

Of 751 respondents:
  • 51% said they are very likely or somewhat likely going to purchase business insurance online directly from the insurer.
  • 49% of respondents said they were not likely going to buy online or direct from the carrier.
  • Of the 51% that would purchase direct and online, ¼ of the individuals would expect a discount of 10% or less and 1/3 of the individuals would expect a discount between 11% and 15%.
  • The most popular line of service to be purchased online, of the respondents, is 67% general liability.

With the sudden interest in purchasing commercial insurance direct and online what are your thoughts for the industry? Will it affect independent insurance agents? Will consumers purchase online?

Below is the letter I received in the mail.


IWA, the Drycleaning Insurance Specialists become a Brand Name

Author EdwardMurayama , 1/14/2013

IWA, the largest provider of business insurance to the Fabricare/Drycleaning Industry, has been working with local insurance brokers to offer access to their program for local Drycleaners for since 1946. IWA has now branded their program with a name that highlights what they do and who they do it for. IWA’s unique Insurance program offers comprehensive insurance protection to Drycleaners, Commercial Launderers, Linen Suppliers, & Uniform Rental Services.

IWA, the Drycleaning Insurance Specialists become a Brand Name

Author EdwardMurayama , 1/14/2013

IWA, the largest provider of business insurance to the Fabricare/Drycleaning Industry, has been working with local insurance brokers to offer access to their program for local Drycleaners for since 1946. IWA has now branded their program with a name that highlights what they do and who they do it for. IWA’s unique Insurance program offers comprehensive insurance protection to Drycleaners, Commercial Launderers, Linen Suppliers, & Uniform Rental Services.