Colonial Surety has officially launched nationwide, so all states can now access their BOP, General Liability, and Professional Liability coverage. Founded in 1930, Colonial Surety Company is a trusted leader in small commercial insurance, delivering customized coverage solutions to meet the unique needs of small businesses. They proudly provide a comprehensive suite of small commercial products. Get a commission of 12% on New Business and 9% on Renewals, and watch the webinar recording below to see how you can leverage Colonial Surety for your clients.
Colonial Surety Webinar Introduction
Aundrea from FirstConnect introduced the webinar and explained technical issues, while Caitlin and Teh from Colonial Surety confirmed they could see the screen. Aundrea outlined housekeeping details, including the availability of the full recording post-webinar, instructions for requesting Colonial Surety products through the carrier store, and a 12% commission for new business and 9% for renewals. She also provided a step-by-step guide on how to complete and submit the form in the carrier store. Aundrea then introduced Caitlin and Teh to present the next part of the webinar.
Colonial Surety Expands Commercial Insurance
Colonial Surety, a small carrier founded in the 1930s and rated A.M. Best, is expanding its distribution through agent channels to offer commercial insurance products beyond its traditional surety bonds. The company, which is licensed in all 50 states, offers General Liability, Professional Liability, and Business Owner's Policy (BOP) insurance, with Caitlin demonstrating their simplified digital platform that provides instant auto-decisions. Colonial requires appointed agents to commit to at least $25K in new business annually and emphasizes partnership through regular onboarding and recurring meetings, with upcoming product releases including DNO and commercial crime insurance.
First Connect Platform Insurance Demo
Kaitlin demonstrated the First Connect platform's dashboard, showcasing its features for business insurance, including general liability, professional liability, and other coverage types. She walked through a sample application process, highlighting the simplicity and efficiency of the system. Teh addressed several questions from the audience, clarifying that Colonial does not currently offer HOA, BOP, or GL for habitational properties but is working on a program. He explained that while there are no discounts for advanced quoting or recurring payments, certain bundle discounts are available. Teh also assured that agents who do not meet the $25K premium threshold in their first year will not be automatically terminated, emphasizing the importance of consistent business submission.
Insurance Products and Services Overview
The meeting focused on discussing insurance products and services offered by the company. Kaitlin and Teh provided information on various insurance options, including general liability (GL), professional liability (PL), and business owners policy (BOP). They explained coverage details, geographical restrictions, and payment options for different products. The team addressed questions from attendees about specific insurance needs and coverage limitations. Kaitlin and Teh mentioned they would work on creating a more comprehensive appetite guide for agents to reference. Aundrea ended the conversation by thanking everyone for their participation and providing contact information for further assistance.