Foxquilt Announces Major Expansion of U.S. Product Line with New E&O Insurance Launch

Foxquilt Expands U.S. Product Suite with E&O Insurance Launch

Foxquilt, a North American insurance technology firm known for its innovative approach to small business insurance, has recently announced a significant expansion to its product lineup. The company’s introduction of Errors & Omissions (E&O) Insurance marks a notable step in its evolution as it transitions from a single-product Managing General Agent (MGA) to a comprehensive, multi-line commercial insurance provider.

This new offering is set to roll out across the United States in September, targeting various professional sectors including technology, consulting, and the health and beauty industries. E&O Insurance, often referred to as Professional Liability Insurance, provides critical protection against claims of negligence, errors, or omissions that can arise in the course of business operations.

Karim Jamal, CEO and Co-Founder of Foxquilt, emphasized the importance of this launch, stating, "The introduction of E&O signifies a major milestone in our growth journey. This expansion not only adds value to our existing distribution network but also opens new avenues for us as we aim to build a scalable business model that meets the diverse needs of small enterprises.”

The E&O insurance will also harness Foxquilt’s unique Foxden platform, an advanced proprietary insurance solution that allows agents, brokers, and small business owners to automate their insurance processes. With Foxden, users can quickly obtain quotes and immediately bind coverage tailored to their specific needs. This feature is particularly beneficial as it streamlines the insurance purchasing process, making it less cumbersome for professionals who need to manage their time efficiently amidst busy work schedules.

Furthermore, the launch sets the stage for Foxquilt to delve into the realm of embedded insurance partnerships. The company plans to integrate its Professional Liability offering into platforms and networks that cater to independent professionals. This strategic move aims to facilitate direct access to insurance solutions within professional ecosystems, enhancing user accessibility and operational efficiency.

Nick Goodfellow, Vice President of Insurance Operations at Foxquilt, noted, “We are thrilled to extend our automated underwriting capabilities into the realm of Professional Liability, all while maintaining the speed and ease of business transactions that our partners and clients have come to rely on. The launch of this product is just the start of our broader mission to enhance coverage offerings available through Foxden.”

Supported by its collaboration with Markel, Foxquilt aims to leverage its strengths by focusing on underwriting sophistication, technological innovation, and robust distribution strategies within the $1 trillion small commercial market. Jeff Lamb, President of Programs, Alliances & Insurtech at Markel, expressed enthusiasm about this new venture, stating, “Foxquilt has shown exceptional prowess in blending technology with sound underwriting principles, and we are excited to see this approach evolving into Professional Liability Insurance.”

As of the initial launch, the E&O product will be available in ten states, including Alabama, Arizona, Georgia, Michigan, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, and Wisconsin, with plans for rapid nationwide coverage by the end of 2026. To explore more about Foxquilt's new E&O insurance offering, visit their official website at Foxquilt E&O Product.

About Foxquilt

Foxquilt is a pioneering insurance technology company that specializes in developing and distributing commercial insurance products for small businesses throughout the U.S. and Canada. The firm’s advanced technology platform combines automated underwriting with effective digital distribution, aiming to enhance accessibility and efficiency in commercial insurance solutions.