The company I fly for uses the monitored approach system for both precision and non precision approaches whenever the reported weather is below certain defined minima.
The main reasoning behind this is that an analysis of approach incidents/accidents over many years showed that in 75% of cases the Captain was flying the aircraft when these incidents/accidents occurred. So why not get the FO to the fly the approach? This means that if the Captain has not taken over by the DA/MDA the FO executes the Go Around. (The FO is known as the Go Around Man, sorry Go Around Person!). In the case of CAT 2/3 the same rules apply except that if the Captain calls "Land" and takes over the FO stays on instruments (monitoring) right down to taxi speed on the runway and calls any deviations.
If you have never operated this system before it sounds a bit alien but with suitable training it works very well and does, I believe, have considerable benefits.