Introduction
Navigating the world of insurance providers requires a clear understanding of regulatory identifiers and company credentials. One such identifier is the NAIC number, issued by the National Association of Insurance Commissioners. For businesses and policyholders seeking specialty insurance, Obsidian Specialty Insurance Company stands out as a reliable option. This article breaks down key information about the company, including its NAIC number, corporate structure, services, and why it’s an important player in the insurance sector.
What Is Obsidian Specialty Insurance Company?
Obsidian Specialty Insurance Company is a U.S.-based surplus lines insurer, offering specialized insurance solutions to meet complex and non-standard risk needs. It operates under the umbrella of Obsidian Insurance Holdings, Inc., forming part of a strategic and financially secure group known for innovation and underwriting expertise.
Company Snapshot:
| Attribute | Details |
|---|---|
| NAIC Number | 16871 |
| Domicile | Delaware |
| Parent Company | Obsidian Insurance Holdings, Inc. |
| A.M. Best Rating | A- (Excellent) |
| Commenced Business | December 1, 2020 |
| Incorporation Date | June 16, 2020 |
| Headquarters | 1330 Avenue of the Americas, Suite 23A, New York, NY 10019 |
What Is an NAIC Number?
The NAIC number is a unique identifier assigned to insurance companies by the National Association of Insurance Commissioners. It is used to track financial data, ensure regulatory compliance, and facilitate consumer access to important company information.
For Obsidian Specialty Insurance Company, the NAIC number 16871 allows regulators, policyholders, and partners to verify its licensing, financial health, and complaint history.
Services and Market Position
Obsidian Specialty Insurance Company offers a range of surplus lines insurance products designed to address unique or high-risk exposures. These can include:
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Commercial liability
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Professional indemnity
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Cyber liability
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Niche or emerging risks
By focusing on surplus lines, the company operates in a flexible regulatory environment, allowing it to innovate and quickly respond to market demands not typically covered by standard insurance providers.
Real-World Example
A mid-sized tech firm with international operations struggled to find affordable cyber liability coverage due to their risk profile. Through a broker, they secured a tailored policy from Obsidian Specialty Insurance Company that provided broader terms and limits than traditional insurers, demonstrating the company’s capacity to address emerging risk categories.
Why Choose Obsidian?
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Financial Strength: Backed by an A- rating from A.M. Best, indicating strong financial stability.
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Specialization: Focus on surplus lines allows for customized solutions.
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Responsiveness: Agile underwriting tailored to dynamic or high-risk sectors.
How to Verify Insurance Credentials
To verify Obsidian Specialty Insurance Company or any other insurer, you can:
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Visit the NAIC Consumer Information Source
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Search for the NAIC number (16871)
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Review financial statements, license status, and complaint records
Final Thoughts and Call to Action
Obsidian Specialty Insurance Company is a notable player in the specialty and surplus lines insurance space. Its NAIC number (16871) is your gateway to verifying its credentials and exploring customized coverage options. Whether you’re a broker, business owner, or policyholder, understanding how this insurer operates can help you make informed risk management decisions.
Next Steps:
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Visit the NAIC website to explore Obsidian’s financial data.
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Contact your insurance broker about surplus lines coverage through Obsidian.
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Consult a licensed insurance professional to assess if Obsidian’s products meet your unique needs.