GenStar Launches “Contractors Suite of Products”

Contract P&C (Binding Authority) Unit announces comprehensive coverages for contractors

STAMFORD, Conn.--(BUSINESS WIRE)--GenStar announced the launch of its new “Contractors Suite of Products”. GenStar President and CEO Marty Hacala commented, “GenStar is committed to supporting the insurance needs of contractors by offering comprehensive General Liability, Property and Inland Marine coverages”.

The GenStar “Contractors Suite of Products” insures small to medium-sized general contractors, remodeling contractors, artisan contractors and handypersons. Eligibility is limited to contractors with maximum gross receipts as per the following:

• $1.5 million for General Contractors and Remodelers
• $1 million for Artisan Contractors
• $500,000 for Handypersons

General Liability limits up to $2,000,000 will be available on an occurrence basis. Commercial Property and Inland Marine coverages are also available.

The GenStar “Contractors Suite of Products” is currently available in 36 states.

Matt Brown, SVP and Delegated Division Manager, noted, “We are eager to launch the GenStar Contractors Suite of Products. We identified classes of contractors and territories where we believe GenStar can deliver a competitive solution that will provide broad insurance protection for hardworking insureds and will help our clients write these classes of business”.

Coverage 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.

About GenStar

GenStar is the premier provider of excess, surplus, and specialty property and casualty insurance. We conduct business exclusively through a select group of wholesale brokers.

General Star Indemnity Company 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. General Star Indemnity is licensed in the District of Columbia, Puerto Rico, and all states. Insurance is placed with General Star Indemnity by licensed producers. General Star Indemnity Company 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.