RLI to launch new security guard and alarm systems insurance coverage

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Monday, November 12, 2012

PEORIA, Ill.—RLI, a specialty insurance company, recently announced the launch of a new security guard and alarm systems liability insurance product, according to multiple reports.

RLI will provide primary and excess liability 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 on Dec. 1 2012 in all 50 states.

Mitchell Bombet, director, underwriting, was hired by RLI to manage the new product line.

“RLI’s entrance into the security insurance segment demonstrates our commitment to expanding our product footprint into profitable niche markets,” Michael Stone, president and COO of RLI, said in a press release. “Mitch’s expertise, combined with RLI’s financial strength and strong reputation, will allow us to offer competitive products and serve growing market demand.”