Property and casualty insurer St. Paul Travelers has launched a new online rating tool that it says will provide quoting and binding capabilities for standalone equipment breakdown insurance.

According to the firm, Quick Quote provides new business equipment breakdown (EB) coverage quotes for small-to-medium-sized enterprises having fewer than ten locations and individual location values of up to $25m.

The product also offers access to St. Paul Travelers’ standalone EB policy, EnergyMax21.

The aim of the tool is to reduce time and handling costs for agents writing new business.