Berkshire Hathaway’s General Star Management Company, a wholly-owned subsidiary of General Reinsurance Corporation, has launched an online Individual Real Estate Appraisers Program. General Star will partner with Norman-Spencer Agency, Inc., the program administrator.
“In October, General Star partnered with Norman-Spencer to provide coverage for real estate agents and brokers. We are excited to expand this collaboration to include an online platform for individual real estate appraisers. General Star has a long history of insuring real estate appraisers and we are happy to continue that tradition,” said Tom Gersch, Vice President and General Star Programs Unit Manager.
In commenting further upon the program, General Star President and CEO Marty Hacala stated, “General Star is fortunate to partner with Norman-Spencer. They are an established and knowledgeable program administrator. We will be working together to address the changing and developing needs of real estate appraisers.”
The online Appraisers Program provides specialized Errors and Omission coverages designed specifically for the unique needs of individual real estate appraisers. They can choose a range of limits from $300,000/$600,000 to $1 million/$2 million. There is no deductible. Additional services include a toll-free hotline for risk management and pre-claim assistance.
The online individual Real Estate Appraisers Program will be written on an admitted basis by General Star National Insurance Company which is rated A++ (Superior) by A.M. Best Company and carries an AA+ Insurance Financial Strength Rating from Standard & Poor’s Corporation.
© 2018 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.