GenStar™ – Stability in an uncertain market

by | May 27, 2022

The healthcare industry has been rocked with more change in the last two years than we’ve seen in decades, which has led to uncertainty for insurers. The pandemic and the associated implementation of government policies left many people with negative perceptions of healthcare providers. These perceptions in some cases lead to outright hostility and an increase in not only malpractice claims, but even the way those claims are handled by juries.

This has resulted in a shake up of the insurance market, with some insurers getting cold feet and withdrawing, to be replaced by new players who don’t properly understand the market. With all this instability, it has never been more important to find stable insurers who will be there for your clients in their hour of need and give them the confidence that they are protected through these turbulent times.

Bringing stability to the marketplace

That’s why we’d like to introduce you to General Star Management, (GenStar). They provide coverage for a wide range of medical malpractice exposures for Physicians, Surgeons, as well as Miscellaneous Health Care Facilities.

GenStar have enjoyed incredible premium growth through the last two years,
with 34% in 2020 and 44% in 2021. This growth has been achieved by focusing on the top ten Miscellaneous Healthcare Classes and the top ten Medical Provider Classes, making GenStar one of the healthiest specialist insurers in the marketplace.

Examples of Medical Facilities covered by GenStar

Genstar Addiction treatment insurance
Genstar birthing center insurance
Genstar COVID testing lab
Genstar Perfusion insurance

Examples of Medical Providers covered by GenStar

Genstar Dental Group insurance
Genstar general service insurance
Genstar pain management insurance
Genstar Ob/Gyn insurance

A trusted partner

As a wholesaler, GenStar looked for problem-solving brokers to partner with — decision-makers who provide timely, comprehensive, and competitive quotes — enabling the company to keep focused on what it does best. This is where Westwood Insurance Group came in. Through providing GenStar with a steady stream of qualified clients, we’re proud to have been an integral part of their success.

For those specialty clients who are worried about having to constantly move from one carrier to the next, or just want the comfort of knowing their insurer will be there when they need to claim, GenStar could be the solution. 

 

Talk to us about insuring with GenStar today.

Michael Richards

Michael Richards

President, Westwood Insurance Group

Michael began his insurance career over twenty years ago, working with a risk purchasing group, giving him a wealth of experience in both medical malpractice insurance and captives. Since founding the Westwood Insurance Group in 2001, Michael has developed solid relationships with many underwriters serving the healthcare and senior living marketplaces and is able to effectively help commercial agents with coverage for their clients

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Contact Michael Richards now

Michael Richards, President, Westwood Insurance Group

Michael specializes in insurance for this particular group. You can call him on the number below or fill out the form and he will get your message directly:

insurance for hospitals

Hospital Insurance typically covers all or part of the potential liability for hospital services. It includes medical malpractice, accidents involving hospital employees and equipment, care during surgery or any other invasive treatment, after-hours care arrangements by staff who need help with their children and more.

insurance for long term care facilities

Long term care facilities must protect themselves against potential liability arising from incidents within their facility. Westwood can help you negotiate a package tailored to your long term care facility client.

traditional insurance products

Westwood have fostered exceptional relationships with underwriters and we go to great lengths to keep abreast of their latest products, changes in requirements and restrictions, including having weekly calls with the carriers, which you can see here, by joining our insurance insider group.

    Insurance products at Westwood Insurance Group

    You can find more information on the Insurance Products main page.

    If you have any questions on the different policies, check out our Insurance FAQ’s

    alternative structures

    Westwood President, Michael Richards has extensive experience in setting up alternative structures for larger clients. Here are some examples:

     

    If you think your client could be large and stable enough to benefit from starting or participating in a captive or has a special need for another alternative structure, contact Michael Richards now by phone: 855 351 7487.