Hiscox USA to Deliver Workers' Compensation Insurance Direct to Small Businesses Online
Hiscox USA and Employers have joined forces to provide small businesses a simplified approach to purchasing workers' compensation insurance as part of the Hiscox Small Business Insurance offering available online and over the phone with licensed advisors. Hiscox Small Business Insurance enables small businesses to consolidate their buying decisions for commercial insurance products, including general and professional liability, and workers' compensation insurance from a trusted source. A business owners policy will also be available by the end of the year.
The Hiscox Small Business Insurance offering is designed to address the unique needs of the small-office/home-office market comprised of small professional services businesses with 10 employees or less in knowledge-based industries such as information technology, business and management consulting, and marketing services.
"We continuously strive to innovate the way we deliver value-added workers' compensation insurance to small businesses and joining with Hiscox reinforces that commitment," said Douglas D. Dirks, President and Chief Executive Officer of Employers. "Hiscox is already a proven leader in providing integrated business insurance products direct online to small businesses in the United Kingdom, and we are pleased to work with Hiscox to help replicate that success in the United States."
Since the 2005 U.K. launch of the Hiscox Small Business Insurance product, the business has grown more than 200 percent annually to cover 38,000 small businesses in 2010. Based on Hiscox market research, professional service businesses with 10 employees or less are seeking workers' compensation insurance in addition to other coverage lines and are interested in consolidating business insurance policies from one source. The integrated Hiscox Small Business Insurance offering, including workers' compensation coverage from Employers, provides small businesses with an online process to receive policy quotes and make online purchases.
"Small business owners have been underserved by insurers," said Kevin Kerridge, Head of US Direct, Hiscox USA. "Hiscox's experience insuring knowledge-based professions means we understand the risks they face and are able to tailor policies to meet their needs. Our ability to offer workers' compensation coverage through Employers allows small businesses to fulfill all of their insurance needs in one location with the convenience of 24/7 access to our service."