PRODUCT: California SURE business owners policy (BOP).

COMPANIES: SureChoice Underwriters Reciprocal Exchange (SURE) and SageSure.

RATING: Rated A by Demotech.

AVAILABILITY: Available to producers enrolled with SageSure.

FOCUS: SURE, in partnership with SageSure, recently launched its first nonadmitted business owners policy in California. SageSure specializes in property insurance for catastrophe-exposed markets. To date, SageSure offers more than 50 competitively priced insurance products in 14 coastal states on behalf of its highly rated carrier partners.

The BOP program is SURE's third solution to help address the demand for reliable coverage in the state. The BOP solution comes at a crucial time for California business owners, with fewer insurance options due to increasing wildfire risks. The expansion is a direct response to the market's strong appetite for reliable commercial products.

SURE has introduced a range of solutions to California this year, including surplus lines dwelling fire and homeowners coverage. It responds to the market's demand for dependable coverage options, given that 58% of property insurers have stopped writing new business in the state, SageSure claims.

COVERAGE DETAILS: The California SURE BOP bundles general liability and commercial property insurance into one convenient package. All buildings must be insured to value and the per-location maximum value is $10 million. The aggregate value of liability coverage is $2 million and liability limits per occurrence are $300,000/$500,000/$1 million.

Errors & omissions, cyber liability, employment practices liability and equipment breakdown coverage are also available. 

UNDERWRITING: Underwriting for SURE's BOP evaluates various factors, including primary operations, location, size, wildfire mitigation, total insured value, years in business, loss history and more. Certain business activities and operations are ineligible. Certain coastline eligibility criteria also apply. Inspections will be completed for all risks. Risks in business for less than three years require underwriting approval.

TARGET: The California SURE BOP product is designed for small to midsized business owners in California. It is available for more than 400 business classes across eight industries. It's particularly competitive for restaurants, offices, retail, artisan contractors, service and processing, wholesale, lessors risk and habitational real estate.

COVERAGE AVAILABILITY: California, Florida, Louisiana, North Carolina, South Carolina and Texas.

Will Jones is IA editor-in-chief.