InsurTech B2Z Debuts Small Business Policy Suite

Online business insurance company B2Z Insurance has rolled out a new suite of insurance policies for small- to medium-sized businesses (SMBs), including a business owners policy, cyber insurance and more, according to a press release.

Other features include professional liability, hired and non-owned automobiles and workers’ compensation, the release stated.

The business owners policy goes beyond general liability and covers buildings, structures, customer injuries and more, according to the release. Cyber insurance offers help for SMBs to pay for customer notification, fraud monitoring, legal fees and system damage.

Meanwhile, the professional liability features offer coverage for businesses providing expertise and consulting services, offering help with claims of substandard work like missed deadlines, the release stated.

The suite’s hired and non-owned automobile product aids with third-party losses involving vehicles driven for business purposes, but personally owned by the employees, as well as rented vehicles, according to the release.

And workers’ compensation constitutes a way for employees hurt at work to access coverage to help with medical payments and possible litigation-related expenditures, the release stated.

“In today’s business environment, small business owners understand the importance of resilience and the need for full-scale coverage to keep their assets, employees and customers safe,” said B2Z Insurance Founder and CEO Kuldeep Malik in the release. “But the insurance offerings on the marketplace today are complicated and slow, which leaves many companies with coverage gaps — or even uninsured entirely. The launch of our full suite of policies, combined with our customer-focused platform, marks the beginning of our journey to raise the bar for a better insurance shopping experience.”

PYMNTS reported that slow insurance payouts can be detrimental SMBs. Those payments are supposed to make things right, but waiting for paper checks in the mail could just add to the problems for those companies. Switching to digital payments could soothe those companies’ troubles.