The partnership augments TUMI’s products and capabilities to better serve the complex automotive industry.
April 25, 2021, 11:30 ET
CHARLOTTE, N.C., April 20, 2021 /PRNewswire/ — Today, Trinity Underwriting Managers (TUMI), part of Amwins Underwriting, announced a new carrier partnership with Obsidian, an A.M. Best rated “A-” hybrid fronting program carrier. The partnership will enhance TUMI’s automotive liability product offerings to fill a need for specialty insurance solutions in a challenging and complex industry.
The automotive industry continues to experience challenges, as emerging threats like fraud and nuclear verdicts have caused many carriers to leave the market – even though the industry itself is growing. TUMI’s new program with Obsidian will offer exclusive insurance solutions for towing, automotive repossession, sand and gravel, paratransit and intermodal trucking businesses – often recognized as some of most difficult-to-place segments of the transportation space.
“The automotive industry has faced volatility and a myriad of complex challenges, leaving a growing need for liability solutions,” said Stephen Standing, executive vice president of TUMI. “We look forward to working with Obsidian to enhance our automotive programs and fill a niche gap in the marketplace, while providing the ideal support for our retailers.”
TUMI, as part of Amwins Underwriting, specializes in designing marketing and underwriting niche transportation programs. The partnership with Obsidian augments its reinsurance relationships, providing the ability to write more premiums on a larger scale and expand its product and program offerings.
We are very excited to be partnering with TUMI on this opportunity,” said William Jewett, CEO of Obsidian. “Stephen Standing has positioned TUMI exceptionally well in this rapidly evolving market segment, and we believe that our partnership represents a very attractive and sustainable opportunity for Obsidian and our reinsurers.”
To learn more about Amwins, visit www.amwins.com.