SRA 831(b) Admin introduces a new product, Halo Coverage, to its portfolio of over 25 self-insurance policies, specifically designed to address exclusions, denied claims, and deductibles in traditional commercial policies for small and midsize businesses. The new policy, announced on 30 September, acts as a tax-deferred risk mitigation solution using the 831(b) tax code, also known as micro captive insurance, to help businesses reduce potential incurred losses from uninsured incidents. The leading 831(b) Plan Manager says the move is a direct response to the escalating hardening of the traditional property and casualty (P&C) insurance market. Van Carlson, Founder & CEO of SRA 831(b) Admin, notes that the market hardening is an "unprecedented" trend that has not been seen in nearly 40 years. "Insurance is not what it used to be, with policy language expanding because of exclusions, not additions," Carlson says. "From wildfire carveouts to tariff fluctuations to supply chain issues and cyber crimes at every turn, we have seen a dramatic increase in risks that small and midsize businesses face daily". He adds that the Halo Policy is designed to "pick up where your traditional policy is limited, ensuring that unexpected gaps don't disrupt operations or cash flow".
