Proximity Space, a workplace management software firm, has announced its new initiative Proximity Protect, an insurance brokerage for coworking and flexible office operators, members and tenants.
The company claims to be the country’s first brokerage focused on providing insurance for the flex office industry and their members.
As the popularity of flexible office space grows, operators have been offered slim options for coverage and competitive pricing. But Proximity Protect aims to tackle risk management and provide insurance programs catered to the needs of the flexible office industry.
With many companies preparing to bring workers back to the workplace, Proximity is preparing for these firms to include flexible workspaces as part of their plans.
“The insurance industry can be slow to innovate, which leads to risks simply being declined or inadequate coverage provided for the space operator,” said David Young, president of Proximity Protect and risk management veteran.
Currently, Proximity Protect’s policies include general liability, workers’ compensation, cyber liability and employment practices liability.