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The Hartford expands Spectrum small-business policy

The Hartford has launched Spectrum 2000, an updated version of its Spectrum coverage package that combines property and liability coverages for small businesses.

More than 700 types of business now qualify to purchase Spectrum 2000, including high-tech businesses such as Web site design firms and software developers. The policy is designed for businesses with up to $5 million in sales per year, or $500,000 in payroll.

Coverage can be customized to meet an individual business' insurance needs. Property coverage is available with a $5 million limit for each building location, and includes the building, contents, and property of others. Optional add-ons include computer and media coverage up to a $500,000 limit, valuable papers up to $500,000, and employee dishonesty coverage with a $50,000 limit.

Spectrum's liability limit is $2 million, with a $10 million umbrella. Employment Practices Liability Insurance (EPLI) is included at no extra cost. Spectrum policyholders who purchase additional EPLI coverage receive employee handbook software, which allows businesses to customize and disseminate handbooks, reducing the risk of an employment-related lawsuit.

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