General Liability
CBIC vs. Next Insurance: Which GL Carrier Is Right for Florida Contractors?
Next Insurance has become one of the most heavily advertised small-business insurance companies in the country, promising instant online quotes and same-day coverage. Contractors Bonding and Insurance Company (CBIC), an RLI company, has been quietly doing the same thing since 1979 — with an A+ (Superior) AM Best rating and a track record of paying claims. This comparison cuts through the marketing to show what actually matters when your GL policy is tested.
Bright Coast Insurance is an appointed agent for CBIC (Contractors Bonding and Insurance Company). We can quote and bind your policy today.
The Carriers
CBIC (Contractors Bonding and Insurance Company) vs. Next Insurance: A Side-by-Side Look
CBIC (Contractors Bonding and Insurance Company)
Our PickA+ Superior — Contractor GL Specialist Since 1979
CBIC is a specialty admitted carrier focused exclusively on contractors and construction businesses. As a subsidiary of RLI Corp — a publicly traded specialty insurer — CBIC carries an A+ (Superior) AM Best rating, one of the highest in the industry. They've been profitable in 29 of their 33+ years of operation, which speaks to disciplined underwriting and financial stability. CBIC offers broad contractor eligibility, competitive rates, and the kind of coverage depth that comes from four decades of contractor-specific experience.
- A+ Superior AM Best rating — highest tier of financial strength
- Admitted carrier in Florida — full state regulatory protection
- Contractor-exclusive focus since 1979
- Broad eligibility including specialty trades and higher-hazard classes
- Subcontractor additional insured endorsements available
- Blanket waiver of subrogation available
- Profitable 29 of 33+ years — disciplined underwriting
Next Insurance
Next Insurance is a technology-driven insurtech company founded in 2016. They offer fast online quoting and digital COI management, which appeals to solo contractors who want coverage quickly. However, Next is not a carrier — they are a managing general agent (MGA) that fronts policies through other carriers. Their financial backing and claims-paying ability depend on those underlying carriers, not Next itself. Coverage terms can be narrower than traditional admitted carriers, and their claims handling has drawn mixed reviews from contractors who've had to use it. For a solo handyman doing small residential jobs, Next may be adequate. For a licensed contractor working on commercial projects or needing to meet GC certificate requirements, the gaps can be costly.
Feature Comparison
CBIC (Contractors Bonding and Insurance Company) vs. Next Insurance: Feature by Feature
| Feature | CBIC (Contractors Bonding and Insurance Company) | Next Insurance |
|---|---|---|
| AM Best Rating | A+ Superior | Not a direct carrier (MGA) |
| Years in business | Since 1979 (45+ years) | Since 2016 (8 years) |
| Admitted carrier in Florida | Yes | Fronted through others |
| Contractor specialty | Yes — exclusive focus | General small business |
| Coverage breadth | Broad, contractor-specific | Standard, may have exclusions |
| Claims handling | Direct carrier | Varies by underlying carrier |
| COI management | Yes | Yes (strong digital tools) |
| Subcontractor additional insured | Yes | Limited |
| Blanket waiver of subrogation | Available | Limited |
| Completed operations coverage | Broad | May have exclusions |
Our Verdict
Why CBIC Wins for Florida Contractors
Speed and convenience matter, but when a $500,000 bodily injury claim lands on your GL policy, you want an A+ rated carrier with 45 years of contractor claims experience behind it — not an 8-year-old insurtech fronting through a third party.
CBIC's coverage terms are broader, their financial strength is unmatched in the contractor GL space, and their claims process is built for construction. For Florida contractors who need to meet GC requirements for additional insured endorsements and blanket waivers, CBIC consistently delivers where Next falls short.
The admitted vs. non-admitted distinction also matters in Florida. Admitted carriers are regulated by the Florida Office of Insurance Regulation, which means policyholders have access to the Florida Insurance Guaranty Association (FIGA) if the carrier becomes insolvent. Non-admitted carrier policies — which Next's underlying carriers may be — don't carry that protection.
Bright Coast Insurance is an appointed CBIC agent. We can quote your contractor GL and have your certificate ready the same day.
Common Questions
CBIC (Contractors Bonding and Insurance Company) vs. Next Insurance: FAQ
Is Next Insurance a real insurance company?
Next Insurance is a managing general agent (MGA), not a direct insurance carrier. They underwrite and distribute policies but the actual risk is carried by underlying carriers. This means your policy's financial strength depends on those underlying carriers, not Next itself, and claims handling can be less consistent than with a direct carrier like CBIC.
What is CBIC's AM Best rating?
CBIC (Contractors Bonding and Insurance Company), as part of RLI Corp, carries an A+ (Superior) AM Best rating — the second-highest possible rating. This reflects RLI's strong capitalization, consistent profitability, and disciplined underwriting.
Does CBIC cover general contractors in Florida?
Yes. CBIC writes general liability for general contractors, subcontractors, and specialty trades across Florida. Their contractor-exclusive focus means their policy forms are designed for construction risk, not adapted from a generic small-business form.
Can I get a certificate of insurance the same day with CBIC?
Yes. Bright Coast Insurance can quote, bind, and deliver your CBIC certificate of insurance the same day in most cases. We have direct access to CBIC's quoting platform and can process your application quickly.
Does CBIC include additional insured endorsements?
Yes. CBIC offers additional insured endorsements and blanket waiver of subrogation, which are required by most general contractors and project owners. These can be added to your policy and reflected on your certificate of insurance.
Get a Contractor GL Quote Through CBIC
Bright Coast Insurance is an appointed CBIC agent serving Florida contractors. We'll quote your general liability, explain your coverage options, and deliver your certificate the same day you bind.
Bright Coast Insurance · FL License #L103957 · (239) 475-0361