Does Starnet Insurance Company Still Sell Insurance?

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Asked April 8, 2013

1 Answer

Starnet Insurance Company was a stock fire and casualty company. From 1998 until 2003 the company provided a range of insurance products, and then was absorbed by W.R. Berkley Company, another financial company founded by the owner of Starnet Insurance, William Robert Berkley.

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Company History
Starnet Insurance Company Was founded in 1998 and purchased by the W.R. Berkely Company in 2003. At the time of their acquisition, Starnet Insurance Company reported total assets of over 170 million dollars, including working capital of around 6 million dollars. Since the parent company of Starnet Insurance Company is the W.R. Berkely Corporation, it can safely be inferred that the current owner of Starnet Insurance Company is the same as the original founding company.

Company Ratings
Starnet Insurance Company is not rated individually by the A.M. Best financial ratings company. Instead, Starnet Insurance Company inherits the rating of the parent company, the W.R. Berkley Corporation. That company is rated highly, receiving an "A+" (Superior) rating. Additionally, the Berkley Corporation has a stable long term outlook of "aa-." The company was most recently rated in December of 2012.

Insurance Products Offered
Starnet Insurance Company offered a wide range of insurance products, focused primarily on single owner and private insurance. Products included auto insurance (including truck, RV, motorcycle, and other private vehicle coverages), health insurance, homeowners insurance, and specialty coverage for boats and airplanes as well as business and commercial insurance.

Answered April 8, 2013 by Anonymous

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