RLI Corp, a specialty insurance company, has introduced a new security guard and alarm systems liability insurance product for security insurance companies.
The company has also appointed Mitchell Bombet as Underwriting Director to oversee the new product line, which will provide primary and excess liability insurance coverage to the customers starting from 01 December 2012 in all 50 states across US.
Coverage will be provided on a non-admitted basis for security guard and patrol services, private investigation firms and alarm system installation, as well as maintenance and monitoring companies.
RLI Insurance Company president and COO Michael Stone said the company's foray into the security insurance segment highlights its commitment to expand its product footprint into profitable niche markets.
''Mitch's expertise, combined with RLI's financial strength and strong reputation, will allow us to offer competitive products and serve growing market demand,'' Stone added.
Bombet holds over 12 experience in the security insurance industry, and has served as senior underwriter for CoverXSpecialty, prior to joining RLI.
