Millennial Specialty launches high net worth homeowners program
MGA Millennial Specialty Insurance, an indirect subsidiary of BRP Group, is launching a new homeowners program catering to high net worth individuals via a strategic collaboration with MS Transverse, which is part of MS&AD Insurance Group.
Consumers will have the opportunity to acquire customized home insurance policies that offer “unique features often missing in conventional mass-market policies.” These enhancements 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
- Exclusive claims services staffed by experts well-versed in custom home construction
- Nationwide coverage, including the ability to underwrite properties in catastrophe-exposed locations
“With the High-Net-Worth insurance landscape undergoing unprecedented changes and challenges, Millennial Specialty Insurance, a leader in personal lines products, saw an opportunity to develop an innovative solution for our valued clients and agency partners.” – Naimish Patel, president of the home insurance group at MSI.
“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.” – Ethan Allen, chief risk officer at MS Transverse.