Millennial Specialty Insurance, LLC (MSI), an indirect subsidiary of BRP Group, Inc., has launched a new homeowners program catering to High-Net-Worth (HNW) customers in collaboration with MS Transverse.
The enhancements to the policy include flexibility to insure homes with a replacement value of up to $10 million, choice of deductibles ranging from $10,000 up to $1 million, and exclusive claims services staffed by experts well-versed in custom home construction.
As well as nationwide coverage, including the ability to underwrite properties in catastrophe-exposed locations.
Naimish Patel, President of the Home Insurance Group at MSI, said: “With the High-Net-Worth insurance landscape undergoing unprecedented changes and challenges, Millennial Specialty Insurance (MSI), a leader in personal lines products, saw an opportunity to develop an innovative solution for our valued clients and agency partners.
He further emphasised the suitability of the collaboration with MS Transverse due to its robust financial standing and highest quality reinsurance support.
Ethan Allen, Chief Risk Officer at MS Transverse, also highlighted the relevance of this collaboration as it stands as a testament to the commitment and adaptability of both MSI and MS Transverse.
He commented: “MS Transverse is dedicated to addressing the unique requirements of sophisticated Managing General Agencies (MGAs) and reinsurance partners. Our operational expertise ensures the sustainability of High-Net-Worth offerings over the long term and MSI embodies the right mix of technology and talent to execute our ambitious plan.”
