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Welcome to the Coverdash insurance blog. Here you’ll find valuable articles tailored to your business needs, so you can be ready in a dash for whatever comes next.

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Coverdash Achieves SOC 2, Demonstrating Commitment to Data Security

Coverdash, the leading embedded insurtech specializing in business insurance, is thrilled to announce its SOC 2 certification. This certification underscores Coverdash's unwavering commitment to maintaining the highest standards of data security and highlights our dedication to providing secure insurance solutions to our customers. What is SOC Certification? SOC 2 certification demonstrates Coverdash's ability to protect sensitive customer information and maintain rigorous controls. The audit evaluates the suitability of our controls and adherence to operating effectiveness. Widely recognized as standard for data security, this significant milestone assures that customer data is securely handled. Coverdash's core mission is to simplify the process of buying and managing business insurance for a slew of customers, including e-commerce merchants, gig workers, startups, and business owners across all industries. We offer a comprehensive suite of commercial insurance products, including liability, property, workers' compensation, and cyber insurance. The SOC 2 certification is a foundational qualification that underscores Coverdash's devotion to data security and our commitment to the highest standard of service. "Obtaining SOC 2 certification is a major milestone for Coverdash," said Avery Rubin, CTO of Coverdash. "It validates our dedication to prioritizing the security and privacy of our customers' data. By meeting these rigorous data security standards, we can provide a reliable and secure insurance platform for businesses of all sizes. We are proud of this achievement and will continue to enhance our services to meet the evolving needs of our clients." Coverdash's achievement of SOC 2 certification showcases our dedication to excellence and the importance we place on safeguarding customer data. As we continue to grow and expand our offerings, customers can rest assured that their insurance needs are in the hands of a trusted and secure partner. About Coverdash Coverdash is a fully digital business insurance agency that specializes in serving the insurance needs of businesses of all shapes and sizes. Coverdash's embedded technology enables any partner to host its end-to-end insurance experience with a single line of code. Coverdash is headquartered in New York and is a licensed insurance agency across all 50 states. Interested in partnering with Coverdash? Check out: https://www.coverdash.com/partner
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Coverdash Partnership Expands Linqqs' Core Business Benefits Offering to Include Insurance Solutions

Today, Linqqs, a one-stop-shop for employee benefits and HR solutions for SMBs and Coverdash, the leading embedded insurtech specializing in business insurance, announced a partnership to expand its financial services offering, making business insurance yet another compelling reason for customers to choose Linqqs as their go-to business and benefits advisor. By way of Coverdash’s leading embedded insurance technology, Linqqs customers can now quote, bind, and pay for tailored business insurance policies in a matter of seconds, all without leaving the Linqqs platform. Through Coverdash’s relationships with many of the world's most recognized insurers, Linqqs small business customers can get the coverage they need at the industry’s most affordable rates. "Our mission has always been to be the premier one-stop shop for customers' comprehensive financial services needs," said Terry Kennedy, CEO of Linqqs. "Through our strategic partnership with Coverdash, we have taken another significant stride in fulfilling this commitment by expanding our core customer offering to include essential business insurance solutions." "We are thrilled to partner with Linqqs, a leading player in the business advisory space, aligning with our shared vision of providing customers with a seamless and comprehensive financial services experience," said David Vainer, COO and Co-Founder of Coverdash. "By collaborating with Linqqs, we are furthering our mission to deliver exceptional business insurance solutions, enhancing the value we bring to businesses and empowering them to thrive." The strategic partnership between Linqqs and Coverdash not only enhances the breadth of Linqqs' offerings but also empowers the SMB community with accessible security and effective risk management solutions. This collaboration enables businesses to navigate uncertainties with confidence, paving the way for their long-term success. About Coverdash Coverdash is a fully digital business insurance agency that specializes in serving the insurance needs of businesses of all shapes and sizes. Coverdash's embedded technology enables any partner to host its end-to-end insurance experience with a single line of code. Coverdash is headquartered in New York and is a licensed insurance agency across all 50 states Interested in partnering with Coverdash? Check out: https://www.coverdash.com/partner About Linqqs Linqqs Business Concierge helps you consolidate your employee benefits with one partner so you can connect the services and strategies you need to uncover savings, retain employees, gain efficiencies, and increase profit. The Company provides a broad range of employee benefits services to a range of businesses across all 50 states.
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Coverdash Launches Tailored Startup Offering to Address Rampant Underinsurance Within the Startup Community

Introduction New York, NY - June 6, 2023 - Since launching our SMB insurance agency earlier this year, Coverdash has observed a concerning trend within the startup community: a widespread and growing problem of underinsurance, overexposure, and lacking risk management practices. This issue has impacted founders, investors, and employees, leaving them vulnerable to potential losses and lawsuits. A recent study revealed that a staggering 75% of startups in the U.S. are underinsured by 40% or more. The Startup Underinsurance Conundrum The underinsurance problem amongst startups has compounded in 2023, as founders face challenging economic times. To preserve their runway, many startups have been forced to cut corners on proper risk management practices, unknowingly exposing themselves to significant downside risk. Recognizing the need for proper risk management practices in the startup ecosystem, Coverdash is on a mission to provide accessible solutions to all startups, regardless of their business life cycle (Pre-Funded through IPO). Since our launch earlier this year, Coverdash has already made a significant impact by assisting dozens of startups and founders in navigating the complex world of insurance. Coverdash's Mission and Solution True to our mission, Coverdash is now launching a startup insurance offering tailored specifically to the needs of each startup. Through Coverdash's digital insurance experience, startup founders can now source fully-bindable insurance quotes from the nation's leading insurance companies, all within minutes. This streamlined process saves valuable time and ensures that startups can obtain the coverage they need to protect their businesses effectively. Instant Decision Management Liability for Startups As part of this release, Coverdash is proud to be the first digital insurance provider of its kind to expand its core offering to include instant decision/instant bind Management Liability products, which are universally required by the venture capital community and other investors. These comprehensive solutions provide essential coverage for various aspects of a startup's operations: * Directors & Officers (D&O) Insurance: This coverage offers financial protection for a startup’s founders, executives, and board members against claims related to management decisions. It covers legal defense costs, settlements, and judgments, safeguarding personal assets in case of lawsuits alleging mismanagement or breach of fiduciary duty. This coverage is universally required by the venture capital and other investor communities. * Employment Practices Liability (EPLI) Insurance: EPLI protection guards against claims related to employment practices, such as discrimination or wrongful termination. It covers legal defense costs, settlements, and judgments, and may also include coverage for wage disputes and retaliation claims. * Fiduciary and Crime Insurance: This insurance provides financial protection for startups against claims related to employee theft, fraud, or embezzlement. It also safeguards against claims alleging breach of fiduciary duty or errors in employee benefits plans. Fiduciary and Crime insurance covers legal defense costs, settlements, and judgments, making it crucial for startups of all sizes that offer employee benefit plans. Full Suite of Coverage: Coverdash's Comprehensive Startup Insurance Offering With the addition of Management Liability (D&O, EPLI, Crime, and Fiduciary), Coverdash can now cater to the full business insurance needs of startups of all shapes and sizes across the nation. In addition to Management Liability coverage, Coverdash's full startup insurance offerings include: * General Liability: General Liability insurance provides essential coverage for startups against third-party claims for bodily injury, property damage, or advertising liability. It covers legal defense costs, settlements, and judgments, protecting the business from financial losses due to accidents, injuries, or damage caused by the startup's operations. This coverage is universally required by landlords and shared workspace providers. * Business Owner's Policy (BOP): A Business Owner's Policy is a comprehensive insurance package that combines multiple coverages into a single policy, tailored to meet the specific needs of startups. It typically includes General Liability insurance, Property insurance, and Business Interruption insurance. This all-in-one solution offers convenience and cost savings, providing coverage for common risks faced by startups. The liability coverage that is included is universally required by landlords and shared workspace providers. * Workers Compensation: Workers Compensation insurance is crucial for startups with employees. It provides coverage for medical expenses, lost wages, and rehabilitation costs if an employee suffers a work-related injury or illness. This insurance not only protects the employees but also safeguards the startup from potential lawsuits arising from workplace injuries. This coverage is a legal requirement in most states in the U.S. * Cyber Insurance: In today's digital age, Cyber Insurance is vital for startups that handle sensitive customer data or rely on technology systems. It offers protection against data breaches, cyberattacks, and other cyber risks. Cyber Insurance covers costs related to data recovery, legal expenses, notification and credit monitoring for affected individuals, and potential liability arising from a cyber incident. * Professional Liability Insurance: Professional Liability insurance, also known as Errors and Omissions (E&O) insurance, is essential for startups that provide professional services or advice. It offers financial protection against claims of negligence, errors, or omissions in the services provided. This coverage helps cover legal defense costs, settlements, and judgments, safeguarding the startup from potential lawsuits that could arise from professional mistakes or inadequate advice. Revolutionizing Risk Management Practices Coverdash's tailored startup insurance is set to revolutionize risk management practices within the startup community. By providing easily accessible and fully-bindable insurance quotes in minutes, founders can now focus on building their businesses with confidence, knowing that they have the necessary coverage to mitigate risks. In conclusion, Coverdash's launch of tailored startup insurance is a significant step towards addressing the rampant underinsurance problem within the startup community. By offering accessible and comprehensive insurance solutions, Coverdash aims to empower founders, investors, and employees with proper risk management practices and financial protection. With the addition of instant decision/instant bind Management Liability products and a range of other coverage options, Coverdash is ensuring that startups have the necessary coverage to thrive in today's challenging economic landscape. About Coverdash Coverdash is a fully digital business insurance agency that specializes in serving the insurance needs of businesses of all shapes and sizes. Coverdash's embedded technology enables any partner to host its end-to-end insurance experience with a single line of code. Coverdash is headquartered in New York and is a licensed insurance agency across all 50 states. Interested in partnering with Coverdash? Check out: https://www.coverdash.com/partner
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Business-Focused Insurtech Coverdash Announces Launch After Oversubscribed Seed Round

New York, NY- January 23, 2023 - Coverdash, a fully-digital business insurance startup providing simplified insurance solutions to businesses of all shapes and sizes, is pleased to announce the company's official launch and the closing of an oversubscribed seed funding round. Based in New York City, Coverdash simplifies the process of buying and managing business insurance for e-commerce merchants, gig workers, and all other types of businessowners. The company offers a broad range of commercial insurance products, including liability, property, workers' compensation, and cyber. Coverdash's digital insurance experience enables businessowners to quote, bind, pay for, and actively manage insurance policies in a matter of seconds. Through relationships with many of the world's most recognized insurers, Coverdash provides the coverages growing businesses need at the most affordable rates. Coverdash's embedded technology enables partners to easily offer insurance to existing customers with a single line of code. Integration is straightforward, requiring no extensive engineering resources or implementation. Coverdash's network of embedded partners include leading online market places, service providers, PEOs, lenders, brokers, and various other platforms who serve or transact with businesses nationwide. "Insurtech 2.0 is here, making the next phase of the embedded fintech revolution," said Ralph Betesh, co-founder and CEO of Coverdash, "We have created a frictionless transactional experience that is unseen within the insurance landscape. Our mission is to empower partners with these capabilities and help finally make insurance accessible and simple for business owners across the nation." Coverdash's funding round was led by Bling Capital, with participation from other notable investors, including AXIS Digital Ventures, Tokio Marine Future Fund (in affiliation with World Innovation Lab), Expansion VC, and Cameron Ventures. Multiple strategic angel investors also contributed to the round, including Greg Hendrick, CEO of Vantage Risk; Garret Koehn, president of CRC Insurance; and Steve Shenfeld, president of MidOcean Partners. "The development and adoption of commercial insurance APIs within the insurtech industry has reached a tipping point, enabling innovative companies with the opportunity to drive true growth and transformation," said Ben Ling, founder and general partner at Bling Capital. "We view Coverdash as the future of business insurance and embedded distribution. We're excited to stand alongside the team and support them as they move forward on this journey." This funding round will contribute to Coverdash's ongoing expansion and development through increased product innovation, go-to-market initiatives, and strategic hiring. About Coverdash Coverdash is a fully digital, business insurance agency that specializes in serving the insurance needs of businesses of all shapes and sizes. Coverdash's embedded technology enables any partner to host its end-to-end insurance experince with a single line of code. Coverdash is headquarted in New York and is a licensed insurance agency across all 50 states. For more information please visit LinkedIn, Instagram, Twitter or check out www.coverdash.com.
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