GenStar Unveils Innovative Professional Liability Program for Accountants

GenStar Launches Accountants’ Professional Liability Program

GenStar Insurance Services, LLC, has taken a significant step forward by introducing its new Accountants’ Professional Liability program, aimed at supporting accounting professionals. This program will be offered through Huntersure, a reputable program administrator under the Starwind Group, ensuring a robust support structure for clients.

Tailored Solutions for Accounting Professionals

The program is specifically designed for accounting firms with annual revenues of $2.5 million or less, providing them with customized liability insurance solutions across 45 states. The coverage includes specialized protections tailored for accountants, such as Privacy & Information Security and Employee Dishonesty, among others. Notably, firms can benefit from coverage limits of up to $3,000,000.

Comprehensive Coverage Options

In this evolving business landscape, accountants face various unique challenges, making GenStar’s program a timely and valuable offering. The program encompasses various critical protections against disruptions that accounting firms might encounter. Coverage for disabled partner replacements and legal proceedings is included, ensuring firms can navigate complexities with greater assurance.

Expertise Behind the Program

Martin Hacala, President and CEO of GenStar, expressed enthusiasm about the collaboration with Huntersure. He highlighted that working with an experienced program administrator positions GenStar to deliver exceptional services to their clients. Hacala remarked, “Their extensive experience truly differentiates Huntersure in the field of accountants' professional liability.”

Building a Strong Partnership

Matthew Brown, Senior VP and GenStar Delegated Division Manager, echoed Hacala’s sentiments, noting that Huntersure has cultivated a solid reputation over more than 15 years in the space. This partnership aims to leverage that experience to offer sustainable and reliable products to accountants, enhancing their operational security.

Quality Assurance with General Star National Insurance Company

The liability coverage under this program is underwritten by General Star National Insurance Company, a top-rated affiliate of GenStar, boasting an A++ (Superior) rating from A.M. Best and an AA+ Insurance Financial Strength Rating from S&P Global Ratings. This assures clients of high-quality coverage and stability.

Company Overview and Commitment

GenStar Insurance Services, LLC was established as a premier provider of specialty property insurance, working closely with a select network of wholesale brokers. As part of the Berkshire Hathaway Family of Companies, both GenStar and its affiliate, General Star National Insurance, are committed to excellence in customer service and insurance solutions.

Frequently Asked Questions

What is the purpose of GenStar's new program?

The program is designed to provide accountants with tailored professional liability insurance solutions specifically catering to their unique needs.

Who is eligible for the Accountants’ Professional Liability program?

Accounting firms with annual revenues of $2.5 million or less can participate in this program to secure comprehensive insurance coverage.

What types of coverage are offered?

The program includes specialized protections such as Privacy & Information Security, Employee Dishonesty, and coverage for legal proceedings.

Who underwrites the insurance coverage?

The insurance will be underwritten by General Star National Insurance Company, which has a strong financial rating, ensuring reliability for clients.

How does this program benefit accounting firms?

This professional liability program provides accountants with peace of mind and specialized protections, enabling them to focus on their core services without worrying about liability issues.

About The Author

Hi there, As a writer and financial specialist, Henry Turner is passionate about guiding people through the complex world of finance. Having worked in finance for many years, I am an expert at simplifying difficult financial ideas into understandable, useful insights for my blog and articles. My goal is to arm you with the confidence and information you need to make wise financial choices.

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