SureChoice launches new business owners policy (BOP) in California amid wildfire challenges

The launch comes as California faces a shrinking pool of insurance options and increasing wildfire risks. With 6,078 wildfires already burning over 977,923 acres in 2023 alone, the state is experiencing conditions that exceed its five-year average.

This has significantly reduced available coverage for business owners and heightened the demand for new insurance solutions.

SURE, as a policyholder-owned reciprocal exchange, focuses on providing innovative and reliable insurance solutions for underserved markets.

By teaming up with SageSure, a leader in catastrophe-exposed market underwriting, they aim to fill critical gaps in the insurance landscape.

The new BOP product is designed to offer comprehensive coverage for a wide range of businesses.

It can accommodate over 400 business classes across eight industries, including restaurants, offices, wholesale, habitational, lessor risks, retail, service, and artisan contractors. This will enable California business owners can access better protection, despite the state’s increasingly challenging insurance environment.

This non-admitted BOP solution is the third insurance product SURE has introduced in California this year, following its earlier launch of dwelling fire and surplus lines homeowners coverage. The company is committed to meeting the demand for reliable, catastrophe-focused coverage.

In collaboration with SageSure, SURE hopes to streamline the buying experience and provide greater flexibility for risk management.

“By introducing the new BOP product, SURE is demonstrating its commitment to the California market,” said Ed Konar, President of SURE. “After bringing dwelling fire and surplus lines homeowners coverage to California earlier this year, the BOP program is SURE’s third solution to help address the demand for reliable coverage in the state.”

“SageSure is proud to partner with SURE to develop the latest BOP program and deliver solutions producers want to sell,” said Victor dos Santos, President of Commercial Insurance at SageSure. “With a market-leading buying experience and broad appetite for risk, the program can support producers in growing their book of business while offering more options to their clients.”