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4 October 2024News

Aspen-backed insurtech offers general liability product

Bermuda-based Aspen is backing a general liability insurance policy being offered by insurtech Counterpart. 

The insrtech said the new offering provides small businesses access to expanded coverage through Counterpart’s trusted network of wholesale broker partners. 

"Backed by A rated carrier Aspen, Counterpart’s GL offering provides tailored insurance solutions for small and medium-sized businesses," a statement said. 

The GL product features ISO-based wording and offers limits of up to $1 million occurrence / $2 million aggregate including products and completed operations, with separate limits for both Professional Liability (PL) and General Liability (GL). 

This additional coverage helps small businesses protect themselves from claims related to bodily injury and property damage stemming from their products, services, or operations, the company said. 

“General Liability is a critical coverage for small business owners and has been the most demanded addition to our PL product line from our brokers,” says Mike Muglia, Professional Liability Insurance Lead at Counterpart. “The ability to package GL with MPL simplifies the process for brokers and provides insureds with the advantage of having one carrier handle claims for both lines.”

The addition of General Liability (GL) adds to Counterpart's expanding portfolio of insurance solutions for small businesses and strengthens its partnership with Aspen, the company added. 

“We’re a big supporter of Counterpart and value their data-driven approach to underwriting. We’re excited to back them as they expand their MPL offerings through innovative and cutting-edge solutions,” said Matt Price, Senior Vice President, Professional Liability at Aspen.

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