SureChoice Underwriters Reciprocal Exchange (SURE), a policyholder-owned coastal insurer, in partnership with SageSure, a large managing general underwriters focused on catastrophe-exposed markets, has announced its expansion to the South Carolina commercial property market with its business owners policy (BOP) offering.
According to a press release, after launching its BOP program in Texas last year and expanding to Louisiana and Florida, SURE will now provide commercial capacity for producers writing small- and medium-sized businesses in South Carolina. SURE’s BOP program provides protection for entrepreneurs in the Palmetto State through a combination of property and commercial general liability coverage,
The South Carolina offering covers more than 300 business classes, including restaurants, offices, wholesale, habitational, lessor risks, retail, service and processing, artisan contractors and the new addition of hotels and motels. It also offers increased liability limits of $2 million.
The BOP announcement comes at a time of continued pressure for South Carolina’s commercial property insurance marketplace, driven by rising rates, new business restrictions, and carrier exits. In September, Insurance Journal reported that a million-dollar liquor liability insurance requirement, along with South Carolina’s joint-and-several tort statute has had insurance agents and brokers scrambling to find coverage for some of the state’s favorite watering holes and restaurants.
Was this article valuable?
Here are more articles you may enjoy.
Supreme Court Overturns Chevron Rule in Blow to Regulators 
As Rates Rise, Majority of Homeowners Say Insurance Industry Is in Crisis: Survey 
US P/C Insurers Post Best Q1 Underwriting Result In 17 Years 
Changes at American Coastal Insurance After Florida OIR Action on ‘No-Fly List’ 
