Stamford, CT, April 28, 2011 – General Star today announced a number of changes to its umbrella Fuel Oil Program, distributed exclusively by program administrator S.H. Smith & Company.
Launched in 2001, the program provides commercial umbrella coverage for fuel oil dealers and distributors, gas and propane haulers, and gas station and convenience store operators.
To commemorate the 10th anniversary and coverage enhancements, the program now carries the PetroleumAdvantage™ brand name.
Crisis Management is the latest addition to the standard coverage offered in the program. It provides $25,000 of protection for public relations expenses incurred by an insured to mitigate adverse media reporting of a catastrophic accident. Advertising and travel-related costs of managers or employees are also included.
The program now incorporates specialized fuel oil coverage extensions directly into its PetroleumAdvantage™ commercial umbrella policy, eliminating the complexity of multiple endorsements. Follow Form Erroneous Delivery, Follow Form Punitive Damages and Follow Form Failure to Supply are examples of the consolidated form. Pollution coverage for Upset & Overturn, Hostile Fire, Loading & Unloading, Seepage and Products/Completed Operations are also automatically included in the PetroleumAdvantage™ policy.
“We are pleased to cross a significant milestone together with S. H. Smith”, said Patricia H. Roberts, President and CEO of General Star. “Ten years of success leaves us with a foundation of security and dependability in place for our program participants. We strive to keep up the pace by introducing innovative features and coverages as new challenges arise.”
Cole Palmer, Vice President and Casualty Division Manager adds, “We have learned a number of valuable lessons over the last decade. One of the most important was to listen to our customers and their agents, and tackle what’s important to them. Adding the new Crisis Management coverage and simplifying our policy are two examples of our response. Branding our commitment is the final touch.”
PetroleumAdvantage™ is available on a non-admitted basis in all states by General Star Indemnity Company or General Star National Insurance Company. Both companies are rated A++ (Superior) by A.M. Best Company and carry an AA+ Insurance Financial Strength Rating from Standard & Poor's Corporation.
General Star National Insurance Company is licensed in the District of Columbia, Puerto Rico and all states except Connecticut, where it is an eligible surplus lines insurer. General Star Indemnity Company is an eligible surplus lines insurer in the District of Columbia, Puerto Rico, the Virgin Islands and all states except Connecticut, where it operates as a licensed insurer. Insurance is placed with the General Star companies by licensed wholesale brokers and, for risks that qualify, by licensed surplus lines brokers.
