General Star Sets Sights On Chemical Products Liability
Casualty Division Upgrades Protection for Chemical Product Manufacturers and Distributors
STAMFORD, Conn.--(BUSINESS WIRE)--General Star Management Company today announced underwriting enhancements for chemical product manufacturers and distributors.
For the first time, General Star will offer occurrence form coverage for manufacturers and distributors of certain less hazardous chemicals, including those categorized as “environmentally green.” Claims-made coverage will be offered for all other eligible chemicals, with options for defense costs outside or inside the limits.
From new ventures to businesses with up to $50 million in revenue, General Star will offer coverage to chemical manufacturers and distributors including those seeking protection for discontinued products or operations. A broad range of chemical product types are eligible, including fine, commodity and specialty chemicals; household and commercial finished chemical products; organics, inorganics and synthetics; reference or laboratory standard chemicals; detergents, lubricants, fertilizers, soap, adhesives and paint/other coatings. Chemical research laboratories (excluding pharmaceutical research) will also be underwritten.
Limits up to $10 million are available.
“We are excited to offer improved features and benefits to the chemical industry,” said Cole Palmer, Vice President and Casualty Division Manager for General Star. “General Star is tackling another challenging class and engineering a variety of customized solutions to meet the needs of the full range of light to high hazard chemical operations, including the rapidly expanding ‘green’ chemical business.”
Robert M. Jones, President and Chief Executive Officer of General Star added, “We are committed to bringing innovative surplus lines products and upgrades to market, meeting the ever-changing needs of today’s manufacturers and their distributors. Product liability is a key product offering for General Star, from brokerage Casualty to our delegated Contract P&C division, and we are pleased to contribute valuable solutions for tough-to-place risks in the surplus lines marketplace.”
Underwritten by General Star’s Casualty Division, primary and excess coverage is provided on a non-admitted basis by General Star Indemnity Company which is rated A++ (Superior) by A.M. Best Company and carries an AA+ Insurance Financial Strength Rating from Standard & Poor's Corporation. General Star 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 0031‐34991. Insurance is placed with the General Star Indemnity Company by licensed producers and, for risks that qualify, by licensed surplus lines brokers. This product is not available in all states.
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