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Simply Business and RLI's Expanded Partnership: A New Era of Tailored Insurance for Small Businesses

In a bid to bolster support for small businesses, Simply Business, LLC — recognized as a premier digital insurance marketplace — has announced an expansion of its existing partnership with RLI, a specialty insurer. This enhanced collaboration not only cements their relationship, originally formed in 2022, but also introduces a customized professional liability (PL) insurance product designed to cater to the needs of specialized service professionals who often find themselves underserved in the insurance market.

Samantha Roady, the U.S. CEO of Simply Business, emphasized the company's commitment to empowering small business owners by listening closely to their feedback. The endeavor to provide insurance products that align with their distinct requirements is a core element of Simply Business's mission. Their initial partnership with RLI aimed at offering comprehensive insurance to home-based businesses, thus ensuring coverage against risks typically not encompassed by standard homeowners' insurance policies.

With the introduction of this new tailored professional liability offering, Simply Business is addressing the increasing awareness among independent contractors about potential liabilities connected with their specialized services. As client expectations and industry standards continue to evolve, these professionals require insurance solutions that not only protect them but also adapt to their specific operational risks.

Understanding the Professional Liability Coverage

The PL insurance product will cover a wide array of sectors, including but not limited to:

• - Business Consulting: This coverage protects business managers, consultants, and trainers against allegations of financial loss, strategic missteps, and providing misleading advice that may result in negative impacts on businesses.
• - Pet and Lifestyle Services: This segment caters to professionals such as dog walkers and pet sitters, safeguarding them against claims related to property damage or injuries to animals under their supervision. It also supports event planners, shielding them from liabilities incurred due to event disruptions or errors by vendors.
• - Creative and Instructional Professions: Those involved in teaching arts, music, fitness, or golf can find security through this insurance, which covers claims related to injuries during lessons or insufficient instruction.
• - Administrative and Professional Services: Coverage is extended to auditors against financial losses due to mistakes in audits, virtual assistants facing claims linked to administrative errors, travel agencies dealing with booking errors, and court reporters managing transcription inaccuracies.

The beauty of Simply Business's platform is its user-centric design, which allows business owners to submit a single application, compare multiple quotes, and obtain comprehensive PL coverage online within a matter of minutes. This digital efficiency not only simplifies the process but also enables small business owners to focus on their core activities without the constant worry about potential liabilities.

What This Means for Small Entrepreneurs

Jen Klobnak, Chief Operating Officer of RLI Corp., noted that the expanded partnership is a strategic move in broadening distribution channels and accessing new market segments. This insurance offering provides small business owners with not just protection but also the confidence needed to pursue growth opportunities without the looming threat of liability issues.

Simply Business’s continuous endeavor to refine its insurance products reflects its deep understanding of the unique challenges small business owners face in today’s economy. By adapting to the evolving landscape and actively listening to customer needs, Simply Business is not only solidifying its reputation as a trusted insurance provider but also playing an integral role in nurturing the growth of small businesses across various sectors.

If you're a small business owner looking for tailored insurance solutions, exploring Simply Business’s Professional Liability insurance coverage could be a critical step towards safeguarding your enterprise. For detailed information, visit their official website and navigate through their user-friendly digital marketplace, designed specifically to demystify the insurance process for entrepreneurs.

Simply Business continues to set benchmarks in the insurtech space, having catered to over one million active customers, thereby creating a robust community of small business owners who can securely navigate the complexities of their business environments.