Jan 11, 2022, 08:15 ET
Core customers for the program are small general contractors and artisan subcontractors
NEW YORK, Jan. 11, 2022 /PRNewswire/ — Obsidian, an A.M. Best rated “A-” hybrid fronting program carrier, launched a partnership with Integrated Specialty Coverages, LLC (“ISC”), a leading technology driven program administrator with significant experience and presence in underwriting contractors and tradesmen on a nationwide basis.
ISC’s principal General Liability (“GL”) product is focused on serving the needs of small general contractors and artisan subcontractors that because of size or hazard class are unable to secure coverage in the admitted market. ISC has crafted unique solutions for insurance distribution bringing a competitive advantage to this specific niche.
The ISC Contractors GL program will be written on Obsidian’s “A-” A.M. Best rated surplus lines paper, Obsidian Specialty Insurance Company, and offered on a countrywide basis. This program and the ISC partnership align with Obsidian’s strategy of bringing together deep technical expertise of program administrators, top-tier reinsurance partners, and advanced, efficient technology operations free of operational and distribution channel conflicts.
“We are excited about launching our partnership with ISC. The alignment of Obsidian’s program carrier model with ISC’s uniquely crafted solution for this marketplace as well as top-tier reinsurance support creates a powerful partnership built for sustainable success,” said William Jewett, CEO of Obsidian. Craig Rappaport, Obsidian’s COO and CFO, added “ISC’s technology driven underwriting and distribution capabilities will result in a significant competitive edge in the marketplace which, combined with the quality and experience of their management team, makes them a very attractive partner.”
ISC is a technology enabled program administrator based in Carlsbad, CA. ISC has programs focused on the construction, transportation, hospitality, entertainment, accident and health, and property verticals. ISC is led by Matt Grossberg, founder and CEO, who commented, “Obsidian is an ideal partner for our Standard and Plus contractors GL products. Their leadership team has a wealth of experience in the program space, and Obsidian’s approach as a participating fronting carrier aligns well with our needs and those of our reinsurance supporters. This marks the first of two products we are developing with Obsidian, catering to the needs of brokers focused on the small business E&S marketplace.”
Obsidian Insurance Group carries an “A-” financial strength rating from A.M. Best. The Company significantly invested in building infrastructure and a team to expand its hybrid fronting business partnerships.
Obsidian Insurance Holdings, Inc. is an insurance holding company with admitted and non-admitted insurance carrier subsidiaries that issue policies underwritten by Managing General Agents, Managing General Underwriters, and program managers. Obsidian sources, underwrites, and manages a diverse portfolio of property, casualty, and specialty insurance programs, and reinsures the majority of the business to select reinsurers. Obsidian was formed in 2020 in partnership with leading insurance industry executives and Genstar Capital. For more information, visit www.obsidianspecialty.com.
Integrated Specialty Coverages (ISC) is a leading, multi-line program administrator dedicated to underwriting excellence, client service, and customer experience. ISC has built an end-to-end insurance platform by connecting a broad network of insurance markets and distribution channels with proprietary data analytics capabilities. The firm uses sophisticated technology and analytics to revolutionize how complex programs are underwritten and operated. They are joined by experienced professionals from all spheres of the insurance ecosystem. ISC’s strategy is focused on a combination of strategic M&A, data-driven decision making, as well as an innovative means of delivery. ISC provides its partners with high-quality service, competitive commission, and creative product delivery options to help expand their footprint in any desired line or class of business. Please visit: https://iscmga.com/
Contact: Chris Tofalli
Chris Tofalli Public Relations