STAMFORD, Conn.--(BUSINESS WIRE)--GenStar announced today the launch of a Difference in Conditions (DIC) Program. GenStar will partner with Atlas General Insurance Services, who will administer the DIC program that includes Earthquake, Earthquake Sprinkler Leakage, and Flood.
“GenStar is excited to collaborate with Atlas. They are a committed partner with a quality product, dedicated people, and advanced technology,” said Matt Brown, Senior Vice President and GenStar Delegated Division Manager. GenStar President and CEO Marty Hacala added, “GenStar continues to expand its program offerings. We are delighted to combine the security, expertise, and service of Atlas and GenStar, amplifying the strengths of both organizations.”
The DIC coverage will be written with limits up to $5,000,000 per occurrence and policy term aggregate for primary policies with locations in California. There will be a $2,500,000 maximum for policies with locations in any other U.S. jurisdictions. Maximum individual policy TIV will be $75,000,000.
The DIC Program will be written on a non-admitted basis by GenStar’s General Star Indemnity Company, which is rated A++ (Superior) by A.M. Best Rating Services, Inc. and carries an AA+ Insurance Financial Strength Rating from S&P’s Global Ratings. GenStar is a wholly-owned subsidiary of General Reinsurance Corporation, a Member of the Berkshire Hathaway Family of Companies.
General Star Indemnity Company is an eligible surplus lines insurer in all states, the District of Columbia, Puerto Rico, and the Virgin Islands. It has the status as an unlicensed insurer in California and operates under NAIC Number 0031-37362. Insurance is placed with the General Star Indemnity Company by licensed producers and, for risks that qualify, by licensed surplus lines brokers.