CHICAGO , Sept. 23, 2024 /PRNewswire/ — Monarch E&S Insurance Services, a division of Specialty Program Group LLC, announced its enhanced and exclusive personal umbrella policy, the Knight Protector, with Obsidian Insurance Holdings, an insurance holding company with both admitted and non-admitted insurance subsidiaries. This collaboration aims to redefine personal liability insurance by offering unparalleled coverage limits and protection for individuals, families, and various legal entities across the United States .
The Knight Protector personal umbrella policy offers a strategic defense against the severe financial consequences of lawsuits and claims. With coverage options extending up to $5 million , the policy is designed to secure assets and future earnings under a range of scenarios, providing peace of mind to policyholders.
“Partnering with Obsidian allows us to enhance our product offerings and leverage their A- rated paper to provide top-tier protection,” said Derek Borisoff , CEO of Monarch E&S. “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, commented ” 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.”
Features of the Knight Protector Personal Umbrella Policy:
Nationwide Availability: Accessible in all 50 states and the District of Columbia , ensuring comprehensive protection regardless of location. Open Driver Eligibility: Coverage includes terms favorable to both youthful and senior drivers, accommodating families at all life stages. Enhanced UM/UIM Protection: Safeguards against underinsured or uninsured motorists, offering critical coverage nationwide. Elite Risk and Non-Standard Market Access: Tailored options for high-profile occupations and the ability to underwrite in non-admitted markets with top ratings. Global Coverage Extensions: International coverage for U.S. domiciled risks or through affiliations like Lloyd’s of London . Reputation Defense Coverage: Provides up to $25,000 for reputation damage control, crucial for maintaining a positive public image during disputes. The Knight Protector policy is now available through Monarch E&S. For more information on obtaining comprehensive protection for your clients contact Stefanie McLeod at stefaniem@monarchexcess.com
About Monarch E&S Insurance Services, a Division of Specialty Program Group LLC (d/b/a SPG Insurance Solutions in California )
Monarch E&S Insurance Services is built on treating its customers with unmatched service and deep expertise in commercial and personal lines solutions. As a full-service MGA and wholesale broker, retail insurance agents and brokers have access to many different lines of business through Monarch E&S. Being in business for over 38 years has enabled Monarch E&S to gain underwriting authority with the most highly sought-after surplus line markets and an established reputation in the wholesale brokerage, binding space. For more information, please visit monarchexcess.com
About Obsidian:
Obsidian Insurance Holdings, formed in 2020 in partnership with Genstar Capital, operates through its U.S. insurance carrier subsidiaries focused on supporting specialty insurance programs. Obsidian’s approach integrates economic alignment with a commitment to underwriting and operational excellence. Obsidian manages two admitted carriers and a surplus lines carrier, all rated “A-” by A.M. Best, servicing a diverse range of property, casualty, and specialty insurance programs. For more information about Obsidian, visit their website at obsidianspecialty.com .
About Specialty Program Group LLC
Specialty Program Group LLC (SPG) is a leading specialty platform headquartered in Chicago, IL , with a diverse portfolio of specialty insurance operations spanning underwriting management, digital solutions, wholesale and specialty retail brokerage, and insurance services. SPG has a track record of scaling industry leading businesses by providing access to business resources, technology and process efficiency, capital and investment, deep carrier relationships, and a broad distribution network. Visit specialtyprogramgroup.com to learn more about how SPG can help you scale your specialty business.
CONTACT:
Monarch E&S: Stefanie Mcleod
Phone: 818.249.0100
Email: stefaniem@monarchexcess.com
SPG Media: Lea Prses
Email: lea.prses@specialtyprogramgroup.com
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SOURCE Specialty Program Group