Monarch E&S Insurance Services has partnered with Obsidian Insurance Holdings to launch an enhanced personal umbrella policy.
The offering, known as Knight Protector, seeks to enhance personal liability protection with higher coverage limits.
This collaboration will provide broader protection for policyholders by offering coverage options of up to $5m, allowing individuals to protect their assets and future earnings from lawsuits and claims.
The move aims to redefine personal liability insurance by providing individuals, families, and legal entities with exceptional coverage across the United States.
The Knight Protector policy provides a strategic defence against significant financial risks. It offers nationwide availability, extending to all 50 states and the District of Columbia.
It caters to a variety of legal entities and individuals, with benefits including coverage for youthful and senior drivers, protection against uninsured or underinsured motorists, and international extensions for U.S.-based risks.
The policy also includes elite risk options, access to the non-standard market, and even provides reputation defence coverage up to $25,000, offering essential public relations support during legal disputes.
Other features of the Knight Protector policy include the ability to underwrite high-profile professions and work with non-admitted markets with top-rated insurers.
Derek Borisoff, CEO of Monarch E&S, said, “Partnering with Obsidian allows us to enhance our product offerings and leverage their A- rated paper to provide top-tier protection. With 30 years as a leader in the personal umbrella space, our seasoned team is well-prepared to meet the nuanced needs of our clients with this exclusive product.”
William Jewett, CEO of Obsidian, added, “We believe strongly in Monarch’s mission to provide greater insurance solutions for their clients and are pleased to embark on this new strategic partnership with a partner that combines exceptional underwriting expertise with a keen focus on the client.”
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
