This Penn-Star Health Insurance Company Review will discuss Penn-Star, also known as Penn-America, which is a part of Global Indemnity Group. Penn-Star is based out of Bala Cynwyd, Pennsylvania and A.M. Best has given them a financial rating of A or excellent. Penn-Star is an insurance company that offers a variety of commercial insurance products to help with your insurance and financial needs. Unfortunately, the company does not sell individual health insurance.
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Penn-Star Insurance Contact Information
The headquarters for Penn-Starr are located in Pennsylvania. The address is:
Three Bala Plaza, East, Ste 300
Bala Cynwyd, PA, 19004-3406
Other regional offices are located in Philadelphia, Los Angeles, and Atlanta. Penn-Star is licensed to sell insurance in the District of Columbia and all 50 states.
The local telephone number is 610-664-1500 and the fax number is 610-660-8882.
The website address is www.penn-america.com.
Penn-Star Insurance and Penn-America Group
Penn-Star Insurance is also known as Penn-America Group. Started in 1975, this company offers casualty and property products for small businesses. These products are available through wholesale general agents who have specific binding authority and serve insurance brokers on the retail end. The insurance companies that make up the Penn-America Group have surplus lines qualifications and admitted licenses in all of the 50 states.
The businesses that use Penn-America are smaller companies who have limited or no access to insurers that offer larger standard lines of insurance. These small businesses have risk characteristics that are non-standard, have small premium size, or are located in rural locations.
As an insurance provider in this smaller market, Penn-America has more flexibility when it comes to excluding specific loss exposures coverage, obtains higher prices than standard lines, lower taxes, and fund assessments that are guaranteed by the state.
Penn-America Insurance Mission Statement
The mission of the Penn-America Group is to generate an excellent return to its shareholders by being the primary insurance carrier for a chosen group of general agents who bring Penn-America’s insurance products to the small commercial marketplace.
Penn-America Group Insurance Products
Penn-Star and Penn-America Group operate under Global Indemnity Group management. They are able to offer an expanded offering of product lines as well as technology that is state of the art.
The main focus of Penn-America includes insurance products for small businesses. The main commercial lines are surplus and excess and they include:
- Monoline property
- Monoline general liability coverage
The limits for the property commercial lines are $5 million or less and most of the policies written have $1 million or less as their limits. The general liability insurance for commercial lines are occurrence policies and have limits that range anywhere from $25,000 to $5 million. The average policies have limits that range between half a million and a million dollars.
The multi-peril policies for commercial lines include both general liability and commercial property as a package. To enhance its writings for commercial multi-peril Penn-America also offers commercial umbrella insurance for businesses. This umbrella coverage can have up to $5 million in limits and has reinsurance support.
Penn-America Group Claims
The mission of the claims department of Penn-America is to provide equitable, fair, and prompt claim service to its claimants, agents, and policyholders while operating at a high level of efficiency and productivity.
There are a number of specialty units associated with the claims department. The casualty/property unity deals with the direct handling of property losses and liability claims. Penn’s claim examiners have an extensive knowledge of every portion of claim procedures.
The litigation unit handles complex claims that end up in litigation. The quality assurance unit supports the unit managers and the claims vice president. They continually conduct assessments and reviews of compliance and claim quality as well as recommend processes to improve workflow and assist with training.
The subrogation unit works in regards to their multiple commercial lines and works on recovering paid claims in both criminal and civil cases. The Special Investigation Unit works on investigating any non-meritorious or suspected fraudulent claims. It also conducts training to help with fraud awareness so that potentially fraudulent claims can be more readily recognized.
The claims support unit helps with the operation and how it flows. This may include:
- Typing dictation
- Answering phones
- Subrogation/salvage recoveries
- Check issuing