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Oyster Insurance is now expanding the availability of its workers’ compensation product for small businesses in California.
In a release, Oyster Insurance also shared that it has plans to expand into other states; the insurer is currently licensed in 26 states.
“Obtaining regulatory approval in California is very important to Oyster and to our partner network,” commented Oyster Insurance managing director Curt Stevenson. “The majority of our larger digital distribution partners are not only based in the Bay Area, but have a significant amount of their small business customers throughout the state. In aggregate, 40% of our potential customers are based in California and we are committed to their success.”
Since the start of the year, Oyster has been providing workers’ compensation to more than 70 classes of business in New York and New Jersey. Initially, the insurer provided coverage for professional classes, such as software consulting firms, lawyers and medical and dental offices. Since then, Oyster has expanded into covering variety stores, groceries/delis, bakeries, eating places, drug stores, jewelry stores and florists.
