NEW YORK, Oct. 10, 2024 /PRNewswire/ -- The Mechanic Group, a division of Specialty Program Group (SPG), is proud to announce the enhancement of its "Best In Class" Security Alarm & Investigator Program in partnership with Palomar Excess and Surplus Insurance Company (PESIC), a subsidiary of Palomar Holdings, Inc. (Palomar). PESIC has a financial strength rating of "A" (Excellent) from AM Best. This partnership strengthens The Mechanic Group's ability to deliver Best in Class General Liability and Umbrella Coverage tailored for the Security & Alarm industry.

Leveraging over 30 years of industry experience, The Mechanic Group has long been a leader in customized insurance solutions for security guard companies, alarm installers, private investigators, and security consultants. Now, with the support of Palomar, the "Best In Class" Security Alarm & Investigator Program will offer expanded coverage options and improved service efficiencies.

"We are excited to partner with Palomar, whose expertise in specialty insurance will allow us to deliver even greater value to our brokers and clients," said Marc Katz, President of The Mechanic Group. "This partnership will further strengthen our "Best In Class" Security Alarm & Investigator Program, offering expanded coverage, improved service, and access to Palomar's robust underwriting capabilities."

Key Benefits of the Partnership:

• Advanced Underwriting Authority: Empowering brokers with swift, efficient policy issuance.

• Expert Claims Management: Including risk assessment, efficient claims tracking, and faster settlement negotiations.

• Comprehensive Coverage Highlights: Offering General Liability and supported Umbrella, and more, tailored specifically for the Security and Alarm industry

Palomar, recognized for its innovative approach to specialty insurance, will bring its underwriting and analytical expertise to the ProtectPlus Liability Program. Together, this partnership offers a powerful combination of industry knowledge and specialized coverage.

"We seek MGA's with a firm focus on underwriting discipline for ourselves and our reinsurance partners," said Jason Sears Executive Vice President, Head of Programs, of Palomar. "The Mechanic Group is a leader in the Security and Alarm industry, making them an ideal partner for Palomar. We are excited about the opportunity to collaborate with such a talented team in this niche market segment."

To learn more about our "Best In Class" Security Alarm & Investigator Program and how it can meet the specific needs of your business, please contact Marc Katz at [email protected].