Verisk Analytics, Inc. VRSK announced the launch of its Micro-Businessowners (Micro-“BOP”) insurance program yesterday, aimed at helping insurers cover risks of small businesses.
It is a simpler version of the company’s Businessowners program, with specific focus on covering properties that are mobile in nature. The program covers business and personal properties in any location, such as homes or shared office spaces.
The move makes sense as small businesses do not always feel the need for or can afford commercial insurance but need to get themselves covered, especially under the current circumstances when they are hit by the coronavirus pandemic.
“Our new program enables insurers to meet the needs of today’s micro-businesses and begin relationships with them as they grow into larger businesses,” said William Mauro, vice president and head of commercial lines coverage for ISO, a Verisk business.
Notably, shares of Verisk have gained 15.9% year to date, compared with the 14.4% rally of the industry it belongs to and 1.4% decline of the Zacks S&P 500 Composite index.
Zacks Rank and Stocks to Consider
Verisk currently carries a Zacks Rank 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Some other top-ranked stocks in the broader Zacks Business Services sector are Elastic N.V. ESTC, SailPoint Technologies Holdings, Inc. SAIL and DocuSign, Inc. DOCU. All the stocks carry a Zacks Rank #2 (Buy).
Long-term earnings (three to five years) growth rates for Elastic, SailPoint Technologies and DocuSign are estimated at 26%, 15% and 31.2% respectively.
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