Ill.-based RLI Corp. announced a new security guard and alarm systems liability insurance product. RLI has hired Mitchell Bombet, director of underwriting, to manage the 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.
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.