By Mia MacGregor
April 24 - (The Insurer) - Millennial Specialty Insurance, an indirect MGA subsidiary of The Baldwin Insurance Group, has launched a commercial general liability insurance product designed specifically for habitational properties.
The new product provides general liability coverage for owners of eligible apartments, condominiums and townhomes, and is the latest addition to the MGA platform’s suite of more than 20 products and solutions.
“Increasing claims costs, evolving litigation trends, and tightening capacity have created significant challenges for habitational property owners,” said Rajiv Matta, chief innovation officer of MGA programs at MSI.
Matta said the new product aims to address these challenges, and noted that an AM Best A-plus rated insurer is supporting this product.
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