Nexus US launches new and improved Small Business Protect product

London-based specialty MGA Nexus Underwriting Management has launched an “improved” Small Business Protect product that combines Professional Liability/General Liability and is offered on a surplus lines basis in all 50 states.

Nexus says it wanted to create a product that supports the growth of entrepreneurial businesses that need insurance coverages that are flexible and provide them with financial protection in case a liability claim is made against them. “To help address these unforeseen risks, our Small Business Protect PL/GL product offers customized insurance cover for Professional Services, Premises and Products, risks that require unique solutions.”

“This is an exciting time to roll out this improved product offering. Over 4 million new businesses were created in the US last year according to data from the Census Bureau . Here at Nexus we are well positioned to work in partnership and offer these SME entrepreneurs a PL/GL combo product that will enable them to realize their full potential.” – Bruce Simmons, VP/Product Manager of Small Business Protect.

Bottom Line: There’s a relevant snippet in our latest commercial insurance report co-produced with Carpe Data in which Erin Fenlon, the VP of Business Insurance Operations at The Hanover , shares her views on the new small commercial market. “Small business is becoming increasingly complicated and is no longer a simple, straightforward set of insurance coverages. More coverages such as cyber and professional liability, are required by business owners.”