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Monarch E&S Insurance Services Partners with Obsidian for Enhanced Personal Umbrella Coverage

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 [email protected]

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.

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