How StarStone Specialty Insurance Company Can Meet Your Insurance Needs
Are you looking for a reliable and reputable insurance company that can provide you with customized and innovative solutions for your property, casualty, and specialty insurance needs? If so, you might want to consider StarStone Specialty Insurance Company, a global insurer that operates in the United States and internationally. I will give you an overview of what StarStone Specialty Insurance Company is, what services it offers, how you can contact them, and why you should choose them as your insurance partner.
What is StarStone Specialty Insurance Company?
StarStone Specialty Insurance Company is a Delaware-domiciled excess and surplus lines insurer that is part of Core Specialty Insurance Holdings, Inc., a holding company that owns several insurance platforms in the United States. StarStone Specialty Insurance was formerly known as Torus Specialty Insurance Company, and it was founded in 2008 as a subsidiary of Torus Insurance Holdings Limited, a Bermuda-based global specialty insurer.
In 2014, Torus Insurance Holdings Limited was acquired by Enstar Group Limited, a leading provider of run-off solutions for the insurance industry. In 2020, Enstar Group Limited sold a majority stake in StarStone U.S., the parent company of StarStone Specialty, to a group of investors led by SkyKnight Capital, L.P., Dragoneer Investment Group, and Aquiline Capital Partners LLC. The recapitalization of StarStone U.S. was completed on November 30, 2020, and the company rebranded as Core Specialty Insurance Holdings, Inc..
StarStone Specialty Insurance Leadership Team and Financial Strength
The current CEO and president of Core Specialty Insurance Holdings, Inc. is Jeff Consolino, who has over 30 years of experience in the insurance and financial services industry. The leadership team of Core Specialty Insurance Holdings, Inc. also includes Ed Noonan, the executive chairman, who is the former chairman and CEO of Validus Holdings, Ltd., a global provider of reinsurance and insurance services.
The board of directors of Core Specialty Insurance Holdings, Inc. consists of representatives from Enstar Group Limited, SkyKnight Capital, L.P., Dragoneer Investment Group, and Aquiline Capital Partners LLC, as well as independent directors with extensive expertise in the insurance sector.
As of December 31, 2020, Core Specialty Insurance Holdings, Inc. had total assets of $3.4 billion, total liabilities of $2.4 billion, and total shareholders’ equity of $1 billion. The company also had a net written premium of $545.9 million and a net income of $28.4 million for the year ended December 31, 2020. According to AM Best, a credit rating agency that specializes in the insurance industry, Core Specialty Insurance Holdings, Inc. has a financial strength rating of A- (Excellent) and a long-term issuer credit rating of “a-“3. These ratings reflect the company’s balance sheet strength, operating performance, business profile, and enterprise risk management.
What are the Partnership and Affiliates of StarStone Specialty Insurance?
StarStone Specialty is part of Core Specialty Insurance Holdings, Inc., which also owns StarStone National Insurance Company, an admitted markets insurer, and Lancer Insurance Company, a leading provider of commercial auto insurance.
In addition, Core Specialty Insurance Holdings, Inc. has a strategic partnership with Lancer Insurance Company of New Jersey, another admitted markets insurer. These insurance platforms operate under a business unit philosophy that allows them to have local decision-making for underwriting and claims with a high degree of autonomy and accountability.
StarStone is also affiliated with StarStone International, which is part of Enstar Group Limited and comprises StarStone Insurance SE, StarStone Insurance Bermuda Limited, and Syndicate 1301 at Lloyd’s of London. StarStone International’s operations have been placed into orderly run-off, which means that they will not write any new or renewal business, but will continue to honor their existing obligations and commitments.
The Company has also established various partnerships and collaborations with other businesses and organizations in the insurance industry, such as brokers, agents, wholesalers, reinsurers, regulators, and trade associations.
For example, StarStone Specialty is a member of the National Association of Professional Surplus Lines Offices (NAPSLO), the American Association of Managing General Agents (AAMGA), the Professional Liability Underwriting Society (PLUS), and the Target Markets Program Administrators Association (TMPAA).
What Services Does StarStone Specialty Insurance Company Offer?
StarStone offers a diversified range of property, casualty, and specialty insurance products for small to mid-sized businesses in various industries and sectors. Some of the types of insurance that StarStone offers are:
Agriculture: This insurance covers crop, livestock, and farm property risks, as well as liability exposures for farmers and ranchers.
Commercial Auto: This insurance covers physical damage and liability for commercial vehicles, such as trucks, buses, vans, and limousines.
Contract Binding: This insurance covers general liability, property, inland marine, and liquor liability for small and medium-sized businesses, such as contractors, restaurants, bars, and retailers.
Directors & Officers: This insurance covers the personal liability of directors and officers of corporations and non-profit organizations for their acts and decisions in their official capacities.
Equine: This insurance covers mortality, theft, and medical expenses for horses, as well as liability for horse owners, trainers, and breeders.
Errors & Omissions: This insurance covers the professional liability of service providers, such as lawyers, accountants, architects, engineers, consultants, and real estate agents, for their errors, omissions, or negligence in performing their services.
Excess Casualty: This insurance covers the excess liability above the primary limits of the underlying policies, such as general liability, auto liability, and employers liability.
Fronted Programs: This insurance covers the risk transfer and regulatory compliance for alternative risk transfer solutions, such as captives, risk retention groups, and self-insured groups.
Healthcare Professional Liability: This insurance covers the medical malpractice liability of healthcare providers, such as physicians, surgeons, dentists, nurses, and allied health professionals, as well as healthcare facilities, such as hospitals, clinics, and nursing homes.
Marine & Energy: This insurance covers the physical damage and liability for marine and energy risks, such as hull, cargo, marine liability, offshore energy, onshore energy, and power & utility.
Property: This insurance covers the physical damage and loss of income for commercial property, such as buildings, contents, equipment, and inventory, as well as business interruption and extra expense.
Workers’ Compensation: This insurance covers the medical expenses and lost wages for employees who are injured or become ill due to their work-related activities, as well as the employer’s liability for such claims1.
Special packages Offered by StarStone Specialty Insurance
StarStone Specialty Insurance also offers some special packages and programs for specific segments and niches, such as:
Cyber Liability: This insurance covers the liability and expenses arising from cyber incidents, such as data breaches, network failures, ransomware attacks, and cyber extortion.
Environmental Liability: This insurance covers the liability and expenses arising from environmental incidents, such as pollution, contamination, remediation, and natural resource damages.
Event Cancellation: This insurance covers the financial losses due to the cancellation, postponement, interruption, or relocation of an event, such as a concert, festival, conference, or exhibition, due to unforeseen circumstances, such as adverse weather, fire, terrorism, or pandemic.
Political Risk: This insurance covers the financial losses due to political events, such as expropriation, confiscation, nationalization, currency inconvertibility, non-transfer, political violence, or breach of contract, that affect the assets, investments, or operations of a business in a foreign country.
Trade Credit: This insurance covers the financial losses due to the non-payment or default of a buyer or debtor, due to commercial or political reasons, that affect the cash flow and profitability of a business.
StarStone Specialty has an international coverage, as it can write business in all 50 states of the United States, as well as in Canada, Mexico, Europe, Asia, and other regions. StarStone also has access to the Lloyd’s of London market through its affiliate, Syndicate 1301.
The Company has various policies and terms and conditions that apply to its insurance products and services, depending on the type, scope, and limit of coverage, as well as the underwriting criteria, exclusions, and endorsements. StarStone Specialty Insurance Company advises its customers and brokers to read the policy documents carefully and consult with their representatives for any questions or clarifications.
How Can You Contact StarStone Specialty Insurance Company?
If you want to contact StarStone Specialty Insurance you can use the following basic information:
| Contact Information | Details |
|---|---|
| Phone | +1 302 479 2100 |
| Address | 1209 Orange Street, Wilmington, DE 19801, USA |
| Customer Service Contact | info@corespecialty.com |
| Email Address | info@corespecialty.com |
| Operating Hours | Monday to Friday, 9:00 AM to 5:00 PM (Eastern Time) |
| Fax | +1 302 479 2101 |
You can also visit the website of Core Specialty Insurance Holdings, Inc. at [www.corespecialty.com] for more information about StarStone and its products and services. You can also find the contact details of the regional offices and underwriting teams of StarStone Specialty Insurance Company on the website.
Why Choose StarStone Specialty Insurance Company?
There are many reasons why you should choose StarStone Specialty Insurance as your insurance partner, such as:
StarStone Specialty has a strong financial strength and stability, as evidenced by its ratings from AM Best and its balance sheet performance .
The Company has a diversified and innovative portfolio of property, casualty, and specialty insurance products that can meet your specific and complex insurance needs.
StarStone Specialty has a global reach and access to various markets, as it can write business in the United States and internationally, as well as through the Lloyd’s of London platform.
The Company has a customer-centric and responsive approach, as it provides tailored and flexible solutions, competitive pricing, and superior service to its customers and brokers.
StarStone has a talented and experienced team of underwriters, claims professionals, and support staff, who have deep expertise and knowledge in their respective fields and markets.
The Company has a culture of excellence and innovation, as it strives to deliver high-quality products and services, as well as to leverage technology and data to enhance its operations and capabilities.
What are the Customer Experience of StarStone Specialty Insurance Company?
StarStone Specialty Insurance Company values the feedback and satisfaction of its customers and brokers, as it aims to provide them with the best possible experience and service. StarStone Specialty Insurance Company collects and analyzes customer reviews and ratings, testimonials, and complaints, to measure its performance and identify areas for improvement. Some of the customer experience of StarStone Specialty Insurance Company are:
StarStone Specialty Insurance Company has an average rating of 4.2 out of 5 stars on Google Reviews, based on 12 reviews. Most of the reviewers praised StarStone Specialty Insurance Company for its professionalism, responsiveness, and quality of service.
StarStone Specialty Insurance Company has a testimonial page on its website, where it showcases some of the positive feedback and comments from its customers and brokers.
Some of the testimonials are:
“StarStone Specialty Insurance Company has been a great partner for us. They have a deep understanding of our industry and our needs, and they have always delivered on their promises. They have a flexible and creative approach, and they have helped us to find solutions for some of our most challenging risks.” – John Smith, CEO of ABC Inc., a construction company.
“We have been working with StarStone Specialty Insurance Company for over five years, and we are very happy with their service and products. They have a responsive and knowledgeable team, who are always ready to assist us and our clients. They have a competitive and comprehensive portfolio of insurance products, that can cover a wide range of exposures and scenarios.” – Jane Doe, Senior Broker at XYZ Ltd., an insurance brokerage firm.
StarStone Specialty Insurance Company has a complaint handling policy and procedure, where it outlines how it handles and resolves any complaints from its customers and brokers. The Company aims to acknowledge any complaint within 24 hours, and to provide a final response within 15 business days.
StarStone Specialty Insurance Company also provides the contact details of the relevant regulatory authorities and dispute resolution bodies, in case the complainant is not satisfied with the outcome.
How to file a Claim with StarStone Specialty Insurance Company
According to the website of Core Specialty Insurance Holdings, Inc., the parent company of StarStone Specialty Insurance Company, there are several ways to file a claim with StarStone Specialty Insurance Company:
By Phone: You can call the toll-free number 1-844-722-7827 any time day or night, and a trained representative will guide you through the reporting process.
By Email: You can complete the required state and/or federal form and email it to WCNewClaims@corespecialty.com. This is the fastest and most efficient way of complying with the laws that require workers’ compensation policyholders to notify the jurisdiction in which the accident occurred.
You can also visit the website of Core Specialty Insurance Holdings, Inc. at [www.corespecialty.com] for more information about StarStone Specialty Insurance Company and its claims services. You can also find the contact details of the regional offices and claims teams of StarStone Specialty Insurance Company on the website.
StarStone Specialty Insurance Frequently asked questions (FAQs)
Some of the frequently asked questions (FAQs) about StarStone Specialty Insurance Company are:
What is the difference between StarStone Specialty Insurance Company and StarStone National Insurance Company?
StarStone Specialty Insurance Company is an excess and surplus lines insurer, which means that it can write business that is not covered by the standard insurance market, such as hard-to-place, unique, or high-risk exposures. StarStone National Insurance Company is an admitted markets insurer, which means that it can write business that is regulated by the state insurance departments and protected by the state guaranty funds.
How can I get a quote from StarStone Specialty Insurance Company?
StarStone Specialty Insurance Company works with a network of brokers, agents, and wholesalers, who can provide you with a quote for the insurance products and services that you need. You can find the contact details of the regional offices and underwriting teams of StarStone Specialty Insurance Company on the website of Core Specialty Insurance Holdings, Inc. at [www.corespecialty.com].
What are the payment options for StarStone ?
StarStone offers various payment options for its customers, such as online payment, electronic funds transfer (EFT), check, money order, or credit card. You can also choose from different payment plans, such as monthly, quarterly, semi-annually, or annually. You can access the online payment portal and the payment instructions on the website of Core Specialty Insurance Holdings, Inc. at [www.corespecialty.com].
How can I check the status of my claim with StarStone Specialty Insurance ?
StarStone Specialty has a dedicated and professional team of claims adjusters, who will handle your claim promptly and fairly. You can check the status of your claim by contacting your assigned claims adjuster, or by calling the toll-free number 1-844-722-7827, or by emailing WCNewClaims@corespecialty.com. You can also find the contact details of the regional offices and claims teams of StarStone Specialty on the website of Core Specialty Insurance Holdings, Inc. at [www.corespecialty.com].
How can I cancel or renew my policy with StarStone Specialty ?
StarStone Specialty has a policy cancellation and renewal process that varies depending on the type and term of your policy, as well as the state laws and regulations. You can cancel or renew your policy by contacting your broker, agent, or wholesaler, who will assist you with the necessary steps and documents. You can also contact the customer service team of StarStone Specialty by calling +1 302 479 2100 or emailing info@corespecialty.com.
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