Markets/Coverages: BTIS and RLI Cater to Home-Based Businesses; Cover Genius Targets Midsize Retailers with Warranty App

BTIS Partners With RLI to Offer Nationwide Home-Based Business Insurance

Managing general agent Builders & Tradesmen’s Insurance Services (BTIS) has launched a home-based business coverage that is available nationwide and underwritten by specialty insurer RLI.

RLI’s home business insurance protects home-based small businesses from general liability exposures and safeguards their equipment, furniture, fixtures and inventory while they are working at home and offsite. The insurer notes that standard homeowners’ insurance policies typically do not provide adequate protection for these risks.

“The country is shifting in many ways, and a large number of new businesses are operating within the home,” said Paul Holbein, co-president of BTIS, citing one estimate that almost half of all 31.7 million small businesses are run from home.

Justin Doss, RLI vice president of sales and marketing, noted that RLI provides home business insurance for 143 different home-based business classifications including teachers, bakeries, residential inspection services, crafters, photographers, artists, personal care products, entertainers and others.

Coverage is available in all 50 states with business personal property limits up to $100,000 and liability limits up to $1,000,000.

BTIS is part of the Amynta Group.

Cover Genius Expands Market Reach with XCover Go for Merchants

Embedded insurance specialist Cover Genius is expanding into the middle-market with XCover Go, an app that enables small-to-medium-sized businesses to offer warranty and shipping protection and earn commissions for warranty sales.

Angus McDonald, CEO and co-founder of Cover Genius, said that expanding into the middle market with XCover is a “natural next step” for the company given that its global distribution platform is already available at Amazon, eBay, Wayfair, Descartes ShipRush and other large firms.

XCover Go is also available on leading e-commerce platforms, including Shopify and BigCommerce with Salesforce Commerce Cloud and Magento.

According to a retail survey commissioned by Cover Genius, 60% of consumers would buy insurance or warranties from their e-commerce retailer if it were embedded into the online experience. However, 59% of shoppers were not offered insurance the last time they shopped online.