Working in the small business market segment, with small premiums and slim margins, can be a challenge for producers. But with the right combination of coverages, claim services and technology, it is possible to grow this segment into a very profitable book of business,
StarrBOP is designed for small businesses with sales up to $5,000,000 and fewer than 50 employees with a $500 minimum premium.
StarrBOP offers property limits up to $5 million per location and a liability limit of $2 million ($4 million in the aggregate) per insured. The program is written on Starr Indemnity & Liability paper, which offers an â€œAâ€ rating from AM Best. Enhanced coverages and options on select risks can include:
- Computer Fraud
- Outdoor Signs
- Crisis Containment
- Appurtenant Structures
- Employee Dishonesty
- Lock & Key Replacement
- Water backup
- Auto â€“ non-owned & hired
StarrBOP goes beyond typical BOP options by offering some grants of coverages that others donâ€™t readily provide.
For example, one such enhancement is crisis containment coverage. If an insured has a loss which affects their business reputation and finds it necessary to seek the services of an outside consulting or public relations organization, StarrBOP will cover some of those costs.
Another enhancement is non-owned and hired auto, which is a very typical â€“ and critical – area of concern for small businesses whose employees often use their own or rented vehicles to conduct business.
The next time you are quoting a BOP, please consider StarrBOP.