General Star Management Co. has launched a high value homeowners program. Effective March 1, the product is offered through All Risks, Ltd, the program administrator for this new facility. Together, they will provide eligible homeowners with insurance options in 12 states and Washington, DC. The program is written on a non-admitted basis and expansion into additional states is anticipated.
Coverage will be written by General Star Indemnity Co. General Star is a wholly-owned subsidiary of General Reinsurance Corp., a member of the Berkshire Hathaway family of companies.
Designed for high value risks, the program offers “Coverage A” limits ranging from a minimum of $250,000 to a maximum of $1.5 million. The maximum liability limit is $1 million.
Protection for wind and hail perils is available. Eligibility is based upon proximity to water, and the coverage is subject to deductible requirements.
Additional features include scheduled personal property, extended replacement cost, water backup and sump discharge/overflow, ordinance or law and animal liability coverage.
General Star Indemnity Co. 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 0031-34991. Insurance is placed with the General Star Indemnity Company by licensed producers and, for risks that qualify, by licensed surplus lines brokers.
Topics New Markets Homeowners
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