GenStar Launches Real Estate Professionals E&O Program with RPS Signature Programs

Comprehensive coverages for Real Estate Professionals

STAMFORD, Conn.--(BUSINESS WIRE)--GenStar’s Delegated Programs Unit announces the launch of its Real Estate Professionals E&O program with RPS Signature Programs, the program administration division of specialty insurance distributor Risk Placement Services.

GenStar President and CEO Marty Hacala commented, “GenStar has been in the business of insuring real estate companies for the past 20 years. Our longevity in this class of business demonstrates our commitment to supporting the insurance needs of real estate professionals by offering broad coverage including for services as a real estate agent/broker, property manager, auctioneer, short-term escrow agent, and real estate consultant.”

Adrienne Woodhull, RPS Area President, said, “We are pleased to expand our relationship with GenStar through this new E&O program, building upon the success of our E&O appraisers’ program, which we launched earlier this year.”

The Real Estate Professionals E&O coverage includes:

• Limits of up to $2 million
• Contingent Bodily Injury and Property Damage coverage
• Open House and Failure to Disclose Pollution/Environmental Hazards subject to policy limits, Fair Housing coverage
• Free Extended Reporting Period may be available
• Defense costs outside the limits of liability available
• Prior Acts coverage with proof of continuous coverage
• Free risk management assistance hotline for all insureds
• Broad definition of professional real estate business including: Real estate agent/broker, property manager, auctioneer, short-term escrow agent, and real estate consultant

The program is available in the District of Columbia and all states except AK, LA, NY and WV. The District of Columbia and all eligible states will be written on an admitted basis except for the State of California where it will be offered on a non-admitted basis.

Matt Brown, GenStar Senior VP, Delegated Division Manager, noted, “We are excited to build the Real Estate Professional business with RPS. Both organizations have expertise in this line of business. We believe GenStar can deliver a competitive solution that will provide broad insurance protection for real estate professionals.”

About GenStar:

GenStar Insurance Services, LLC. (CA Producer License # 0B14266) is a premier provider of excess, surplus, and specialty property and casualty insurance, conducting business exclusively through a select group of wholesale brokers. Like GenStar, General Star National Company and General Star Indemnity Company are wholly owned subsidiaries of General Reinsurance Corporation, a member of the Berkshire Hathaway Family of Companies.

General Star National Insurance Company is licensed in all states, the District of Columbia, and Puerto Rico. General Star National Insurance Company has its principal place of business in Stamford, Connecticut, and operates under NAIC Number 0031-11967. 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 companies by licensed producers and, for risks that qualify, by licensed surplus lines brokers.

About RPS Signature Programs:

RPS Signature Programs manages a variety of specialized programs on behalf of highly rated carriers, offering proprietary insurance solutions in niche markets. Headquartered in Rolling Meadows, Illinois, RPS Signature Programs is a division of Risk Placement Services, one of the nation’s largest specialty insurance product distributors. Follow RPS on Facebook, Twitter, LinkedIn, Instagram, and YouTube.