Next Insurance launches professional liability product

Insurer also boasts that it now covers more than a thousand business classes

Next Insurance launches professional liability product

Professional Risks

By Lyle Adriano

Next Insurance is rolling out a new professional liability coverage product, which will be made available online.

The product launch coincides with Next Insurance’s announcement that it now supports more than 1,000 classes of business across the country. Classes the company serves include contracting, construction, consulting, fitness, cleaning, beauty, therapy, entertainment, and education, and much more.

Next Insurance is offering the professional liability coverage to architects, engineers, real estate agents and insurance agents, among other classes of business. Business owners can choose the coverage’s level of protection according to their risk and budget, a release said.

“We want to be the one-stop-shop for any small business,” said Next Insurance co-founder and CEO Guy Goldstein in a statement.

Goldstein explained that the addition of professional liability insurance to Next Insurance’s product suite is a natural progression for a company that serves the needs of small businesses.

“Providing support for over 1,000 new business types and adding professional liability coverage are key steps in our mission to disrupt insurance as small business owners know it, making it simple to access, affordable to own and tailored to individual needs.”

Last year, Next Insurance reported that it had a written premium run-rate of over $44 million, covered over 40,000 businesses, and expanded its core liability product offering to 48 states.

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