Obsidian Partners with SafeLease to Provide Tenant Protection Program

AUSTIN, Texas, Aug. 17, 2021 /PRNewswire/ -- Obsidian, an A.M. Best rated "AA-" hybrid fronting program carrier, has teamed up with SafeLease Insurance Services to provide a novel tenant protection program. Initially focused on the self-storage market, this partnership will allow SafeLease to enable the most robust tenant contents protection plans and offer superior economics to landlord partners.

Tenant insurance has traditionally been difficult for landlords to sell as a leasing add-on, making it more of an administrative burden than meaningful income source. SafeLease solves this problem by integrating its proprietary protection plan directly into the storage facility's standard lease and managing all reinsurance operations, billing, and claims in-house.

"By partnering with Obsidian, we've established a foundation for SafeLease to become a new leader in contractual liability products," said Steven Stein, founder and CEO of SafeLease. "We know the self-storage market well and are delighted to have Obsidian as our fronting partner who invested their time and resources to understand this niche."

"We are very excited to be partnering with SafeLease on this new opportunity," said William Jewett, CEO of Obsidian. "Steven Stein has built a purpose-driven team that is well-positioned in this rapidly evolving market segment, and we are confident that our partnership represents an attractive and sustainable opportunity for Obsidian."

To learn more about SafeLease, visit www.safelease.co.

About Obsidian
Obsidian Insurance Holdings, Inc., through its insurance carrier subsidiaries, is a new fronting insurance holding company to issue policies underwritten by Managing General Agents, Managing General Underwriters, and program managers. Obsidian will source, underwrite, and manage a diverse portfolio of property, casualty, and specialty insurance programs, and reinsure the majority of the business to select reinsurers. Obsidian was formed in 2020 in partnership with leading insurance industry executives and Genstar Capital. For more information, visit www.obsidianspecialty.com.

About SafeLease
SafeLease is a fully integrated insurance agency that distributes indemnity products throughout the United States and internally manages all administration and claims. Additionally, SafeLease's affiliated reinsurer commits capital to enable uniquely designed risk management products. With offices in Austin, TX and Madison, WI, SafeLease is hiring for local and remote positions immediately. For more information about our openings, visit our career page https://jobs.ashbyhq.com/safelease.

Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334

SOURCE Obsidian Insurance Holdings, Inc.