Specialty Program Group division Monarch E&S Insurance Services has joined forces with Obsidian Insurance Holdings to launch an exclusive personal umbrella policy named Knight Protector.
This policy represents a significant enhancement in personal liability insurance, providing coverage limits of up to $5m to protect individuals, families, as well as various legal entities in the US.
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Monarch E&S describes Knight Protector personal umbrella policy as a solution against the potentially devastating financial impact of legal claims and lawsuits.
The policy is designed to safeguard assets and future earnings across a variety of scenarios, offering peace of mind for policyholders.
It offers nationwide availability, including all 50 US states and the District of Columbia.
The policy features tailored options for high-profile occupations and the flexibility to underwrite in non-admitted markets.
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By GlobalDataIt also provides critical coverage against underinsured or uninsured motorists.
The Knight Protector policy, now offered through Monarch E&S, includes terms that benefit both young and elderly drivers, accommodating the needs of families at the every life stage.
In addition to its extensive coverage, the policy extends international protection for US-domiciled risks and through affiliations such as Lloyd’s of London.
The coverage also offers up to $25,000, particularly for reputation damage control, which is essential for maintaining a positive public image during legal disputes.
Obsidian CEO William Jewett 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.”
Monarch E&S Insurance Services is a full-service managing general agent and wholesale broker, which provides retail insurance agents and brokers with access to a wide range of business lines.
It has also secured underwriting authority with surplus line markets.
Monarch E&S CEO Derek Borisoff 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.”
