Berkshire Hathaway's insurance group has launched “THREE” – a three-page, “game-changing, comprehensive insurance product for small business.”
In a statement, the company explained that businesses typically need several types of insurance to protect their interests, each of which could be over 50 pages in length.
The company added:
In three straightforward, plain English pages, THREE provides insurance coverage for workers compensation, multiple liability coverages (including general liability, errors and omissions, and cyber), property and auto – all the insurance most any small business could need. Replacing the usual chores of time-consuming, multiple applications and coordination, THREE delivers one fully comprehensive (and comprehensible) small business policy, in a fast, easy one-stop shopping experience. Efficiency is increased further by providing THREE direct to small businesses, without the need to go through a broker or third party. Minimizing the risk of not knowing what is being covered, and which policy might apply, makes THREE the right policy for risk averse risk takers.
Warren Buffet, the chairperson of Berkshire Hathaway, said, “Insurance is important protection for any business, but few small businesses have the time to actually read through the policy forms that are supposed to protect them. With THREE a small business can be confident in the protection it is getting, because the whole policy can be read in a few moments. Every day, America's small businesses prove that great things come in small packages. Now they can get insurance on the same basis.”
Berkshire Hathaway said that it will roll out THREE across the country as quickly as state regulatory filings and approvals can be obtained.
Learn more: www.threeinsure.com.