Reinsurance News

Genstar partners with Atlas on DIC program for earthquake & flood

20th June 2019 - Author: Matt Sheehan

Genstar, a subsidiary of General Reinsurance Corporation and member of the Berkshire Hathaway family, has partnered with Atlas General Insurance Services on the launch of a new Difference in Conditions (DIC) program.

The program will be administered by Atlas, and include coverage for earthquake, earthquake sprinkler leakage, and flood.

“GenStar is excited to collaborate with Atlas,” said Matt Brown, Senior Vice President and GenStar Delegated Division Manager. “They are a committed partner with a quality product, dedicated people, and advanced technology.”

Marty Hacala, President and CEO of Genstar, also commented: “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.

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Additionally, there will be a $2,500,000 maximum for policies with locations in any other U.S. jurisdictions, with a maximum individual policy TIV of $75,000,000.

The 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 and carries an AA+ Financial Strength Rating from S&P’s Global Ratings.

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