Hiscox vs NEXT Insurance vs biBERK: Small Business Insurance Compared

Hiscox, NEXT Insurance, and biBERK are three of the most prominent direct-to-business commercial insurance carriers in the U.S. All three sell online, all three focus on small business, and all three also work with independent agents. But they have meaningfully different appetites, coverage approaches, and pricing strategies.

This comparison breaks down where each carrier excels, where they fall short, and which types of small businesses each carrier is best suited for — whether you're an agent evaluating them for your carrier panel or a business owner comparing options.

Hiscox, NEXT (now ERGO NEXT Insurance), and biBERK are three of the most accessible direct-to-business commercial carriers. Hiscox excels in professional lines depth. ERGO NEXT leads on speed and micro-business appetite. biBERK offers the broadest line selection and the highest carrier rating (AM Best A++). The best choice depends on business type, not brand name.

Note: NEXT Insurance completed its acquisition by ERGO Group AG in July 2025 and rebranded as ERGO NEXT Insurance. This post uses "NEXT Insurance" for consistency, but agents should verify the current brand name with their appointments.

Quick Comparison

Hiscox: Deep Specialty Expertise

Hiscox brings over a century of underwriting experience to the small business market. Their U.S. small commercial operation draws on the broader Hiscox group's specialty and professional lines expertise — which shows in their product depth and appetite.

What Hiscox Does Well

Professional liability and cyber. Hiscox has historically strong professional liability (E&O) and cyber coverage. For professional services firms — consultants, IT companies, accountants, architects, engineers — Hiscox often provides coverage depth that pure small-commercial carriers don't match. Their professional liability forms tend to be broader than competitors' basic offerings.

Coverage customization. Hiscox allows more endorsement and coverage customization than many digital-first carriers. Business owners and agents can tailor coverage limits, deductibles, and add-ons to match specific risk profiles rather than accepting a one-size-fits-all package.

Brand and carrier stability. Backed by the Hiscox group (a Lloyd's of London syndicate), Hiscox carries an AM Best A (Excellent) rating, affirmed November 2025. For agents placing professional liability and cyber coverage, carrier stability matters — these are claims-made policies where the carrier's long-term viability affects coverage.

Where Hiscox Falls Short

Limited blue-collar appetite. Hiscox's sweet spot is professional services and office-based businesses. Contractors, manufacturers, restaurants, and other hands-on businesses often find better appetite and pricing with other carriers. If your book is heavy on trades and construction, Hiscox won't cover a large portion of your accounts.

Pricing for simple risks. For straightforward small business accounts (sole proprietor, minimal revenue, standard GL), Hiscox can be more expensive than NEXT or biBERK. The additional coverage sophistication that Hiscox offers comes at a price that isn't always justified for simple risks.

Commercial auto. Hiscox does not write commercial auto. If your client needs a monoline commercial auto policy or wants auto as part of a package, Hiscox can't accommodate.

Best For

• Professional services firms (IT, consulting, accounting, architecture, engineering)
• Businesses needing robust professional liability or cyber coverage
• Accounts where coverage depth matters more than premium savings

NEXT Insurance: Speed and Simplicity

NEXT Insurance was built as a digital-first carrier from the ground up. Their focus is making small business insurance as fast and simple as possible — for both direct-to-business customers and agents.

What NEXT Does Well

Quoting speed. NEXT's online quoting process is genuinely fast. For classes they write, business owners and agents can get a bindable quote in minutes. The application flow is streamlined and minimizes unnecessary questions for straightforward risks.

Broad class appetite for simple risks. NEXT writes a wide range of business classes — contractors, professional services, fitness, beauty, cleaning, retail, food, and more. Their appetite is focused on micro-to-small businesses with straightforward risk profiles. For agents with a diverse small commercial book, NEXT provides appetite across many classes.

Workers' compensation. NEXT writes workers' comp across a broad range of classes, which differentiates them from carriers like Hiscox that don't offer WC. For small businesses that need GL + WC (or BOP + WC), NEXT can package multiple lines.

Pricing for micro businesses. NEXT's pricing tends to be competitive for very small businesses — sole proprietors, 1-to-5-person companies, and startups. Their underwriting model is designed for high-volume, low-premium accounts.

Where NEXT Falls Short

Coverage depth on complex risks. NEXT's underwriting model is optimized for speed and volume on simple risks. Businesses with complexity — multiple locations, high revenue, unique exposures, significant claims history — often find that NEXT either can't write the account or offers limited coverage.

Professional liability depth. While NEXT offers professional liability, the coverage forms may not match the depth that Hiscox or specialty E&O markets provide. For professional services firms where E&O coverage is critical (architects, engineers, technology consultants), compare forms carefully.

Carrier track record. Founded in 2016, NEXT is a relatively young carrier. Their AM Best rating was upgraded to A+ (Superior) in September 2025 following ERGO/Munich Re's acquisition, which significantly strengthens their financial backing. However, agents placing claims-made coverage may still weigh the carrier's shorter operational track record compared to established markets.

Endorsement flexibility. NEXT's digital-first approach means less customization. The coverage you get is largely the coverage that NEXT's standard forms provide. For accounts needing specific endorsements or manuscript coverage, you may need to look elsewhere.

Best For

• Micro businesses and sole proprietors needing fast, affordable coverage
• Agents writing high-volume small commercial with diverse classes
• Businesses needing bundled GL + WC or BOP + WC from a single carrier

biBERK: Berkshire Hathaway Backing

biBERK is Berkshire Hathaway's direct-to-small-business insurance platform, operated through Berkshire Hathaway Direct Insurance Company (BHDIC). The Berkshire Hathaway backing gives biBERK the highest financial strength rating in small commercial insurance — AM Best A++ (Superior), reaffirmed March 2025.

What biBERK Does Well

Financial strength. biBERK policies are backed by Berkshire Hathaway's AM Best A++ (Superior) rated insurance companies — 33 consecutive years of the highest possible financial strength rating. For agents and business owners who prioritize carrier stability, this is the strongest backing in the small commercial market. Contract requirements that specify "A-rated carrier or better" are easily satisfied.

Broad line availability. biBERK offers GL, BOP, workers' comp, commercial umbrella, and commercial auto — a broader line selection than either Hiscox or NEXT individually. For small businesses needing multiple coverage lines from a single carrier, biBERK can often package them together.

Commercial umbrella. biBERK offers commercial umbrella coverage, which is increasingly valuable as contract requirements for higher limits become more common. Not all small commercial carriers write umbrella, making this a meaningful differentiator.

Pricing competitiveness. biBERK's pricing is generally competitive for standard small business classes. Their direct-to-business model (lower distribution costs) and Berkshire Hathaway's capital efficiency contribute to competitive premiums on many account types.

Where biBERK Falls Short

Appetite limitations on specialty classes. biBERK's appetite is concentrated on standard small business classes. Specialty risks, higher-hazard operations, and businesses with significant complexity may fall outside their underwriting guidelines.

Digital-only experience. biBERK's workflow is heavily digital. While this is efficient for straightforward accounts, agents and business owners who prefer phone-based consultation or hands-on underwriting interaction may find the experience impersonal.

Brand recognition. Despite the Berkshire Hathaway backing, biBERK as a brand is less recognized than Hiscox or NEXT Insurance among small business owners. This matters less for agents (who evaluate carriers on appetite and pricing, not brand awareness) but can affect direct-to-business conversion.

Limited endorsement detail. Like NEXT, biBERK's digital-first approach means coverage customization is more limited than traditional carrier relationships where agents negotiate specific endorsements with underwriters.

Best For

• Small businesses needing the strongest possible carrier rating
• Accounts requiring commercial umbrella coverage
• Businesses needing GL + WC + commercial auto from a single carrier
• Agents wanting broad line coverage with competitive pricing and strong financial backing

Head-to-Head Comparison by Use Case

Professional Services (IT Consulting, Accounting, Architecture)

Winner: Hiscox. Professional liability depth is Hiscox's strongest advantage. Their E&O forms are broader, their cyber coverage is more robust, and their underwriting of professional risks is more sophisticated. NEXT and biBERK offer professional liability, but for firms where E&O is the primary coverage need, Hiscox is typically the better choice.

Contractor (Electrician, Plumber, Landscaper)

Winner: biBERK or NEXT, depending on lines needed. Hiscox generally doesn't compete for contractor business. NEXT has broad contractor appetite and competitive pricing for smaller contractors. biBERK offers the advantage of bundling GL + WC + commercial auto under one carrier. For contractors needing umbrella coverage on top of that, biBERK's umbrella availability is a differentiator.

Retail and Service Businesses

Depends on size and complexity. For a simple retail store or service business — one location, straightforward operations, no unusual exposures — all three carriers compete. NEXT tends to have the fastest quoting process. biBERK tends to have the strongest backing. Hiscox may be more expensive but offers more coverage customization. Quote all three and compare.

High-Revenue or Multi-Location Businesses

Consider looking beyond all three. Hiscox, NEXT, and biBERK are optimized for small business. Businesses with revenue above $5 million, multiple locations, or complex operations may find better coverage and pricing through traditional commercial carriers — Hartford, Travelers, CNA, or regional specialists — typically accessed through an independent agent with broader market access. See our buyer's guide to commercial insurance quoting software for tools that help agents access these markets efficiently.

Pricing Comparison

Direct pricing comparisons are difficult because premiums vary by class, state, revenue, claims history, and coverage options. However, general patterns emerge:

The most important takeaway on pricing: quote all three. Premium differences of 20% to 40% between carriers for the same account are common. The "cheapest" carrier varies by account type, state, and coverage configuration.

For agents, using a comparative rater to quote Hiscox, NEXT, and biBERK alongside your other carriers eliminates the guesswork. See our guide to how comparative raters work.

Agent Channel Comparison

All three carriers sell direct-to-business and through independent agents, but the agent experience differs.

For agents, the key question is whether each carrier is accessible through your existing quoting workflow. If you're using a comparative rater that connects to all three, the agent portal experience becomes less relevant — you're quoting through the rater and using the carrier portal primarily for binding and servicing.

Which Carrier Should You Choose?

If you're a business owner: Get quotes from all three. The "best" carrier depends on your specific business type, state, revenue, and coverage needs. Don't choose based on brand name or advertising — choose based on coverage, pricing, and claims reputation for your specific risk profile.

If you're an agent: Appoint with all three if possible. Each carrier has different appetite sweet spots, and having all three on your panel gives you competitive options across a broader range of small business accounts. The agent who can present quotes from Hiscox, NEXT, biBERK, and traditional carriers has a clear advantage over an agent who only checks one or two. For more on building and getting full value from a broad carrier panel, see our Tarmika vs Semsee vs QuoteSweep comparison.

Frequently Asked Questions

Is Hiscox better than NEXT Insurance?

Hiscox is better for professional services firms that need deep professional liability and cyber coverage. NEXT is better for micro businesses that need fast, affordable GL and BOP across a wide range of classes. Neither is universally "better" — the right choice depends on your business type and coverage priorities.

Is biBERK a good insurance company?

biBERK is backed by Berkshire Hathaway, which carries the highest financial strength rating (AM Best A++) in the industry. Their coverage and pricing are competitive for standard small business classes. biBERK is a strong choice for small businesses that value carrier financial stability and need multiple coverage lines from a single carrier.

Can I get commercial auto from Hiscox, NEXT, or biBERK?

Hiscox does not write commercial auto. NEXT Insurance offers commercial auto in many states. biBERK offers commercial auto. If commercial auto is a critical need, biBERK and NEXT are the options among these three carriers — though your full carrier panel likely includes additional commercial auto markets.

How do I quote all three carriers at once?

A comparative rater lets you enter your client's information once and submit to Hiscox, NEXT, biBERK, and other carriers simultaneously. This is the most efficient way to compare pricing and coverage across carriers. For a walkthrough of how this works, see our guide to quoting 15 carriers in 5 minutes.