RLI Corp. (NYSE: RLI) – RLI Corp. announced today it has launched a new security guard and alarm systems liability insurance product. RLI has hired Mitchell Bombet, Director, Underwriting, to manage this new product line.
RLI will provide primary and excess liability insurance coverage for security guard and patrol services, private investigation firms and alarm system installation, maintenance and monitoring firms. Policies will be available on a non-admitted basis beginning December 1, 2012 in all 50 states.
“RLI’s entrance into the security insurance segment demonstrates our commitment to expanding our product footprint into profitable niche markets,” said RLI Insurance Company President & COO Michael J. Stone. “Mitch’s expertise, combined with RLI’s financial strength and strong reputation, will allow us to offer competitive products and serve growing market demand.”
Bombet and his underwriting team have extensive expertise in the security insurance industry. Bombet has more than 12 years of experience and joined RLI from CoverXSpecialty, where he served as a senior underwriter.RLI, a specialty insurance company, offers a diversified portfolio of property and casualty coverages and surety bonds serving niche or underserved markets. RLI operates in all 50 states from office locations across the country. RLI’s insurance subsidiaries – RLI Insurance Company, Mt. Hawley Insurance Company, RLI Indemnity Company and Contractors Bonding and Insurance Company – are rated A+ “Superior” by A.M. Best Company. For additional information, contact Mitchell Bombet, Director, Underwriting, at 309-689-3831 or at email@example.com or visit our website at www.rlicorp.com.