1. Who is GeoVera Specialty Insurance Company and what is its financial rating?  

GeoVera Specialty Insurance Company is the new name for USF&G Specialty Insurance Company.  GeoVera Specialty Insurance Company is a wholly owned subsidiary of GeoVera Holdings, Inc.  

GeoVera Holdings, Inc. is an insurance holding company which conducts its specialty excess and surplus personal lines property business under the GeoVera, Pacific Select and the GeoVera Specialty brands. A.M. Best Company has assigned an “A-“ (Excellent) rating to GeoVera Holdings, Inc. and our wholly owned subsidiaries.

2. When is the name change taking place? 

The new name will be phased in over the next year and a half.  The transition will be complete by November, 2008. 

3. Why is the name changing? 

When St. Paul Travelers sold their CATRisk Division to Friedman Fleischer & Lowe, LLC (“FFL”) and Hellman & Friedman LLC (“H&F”), leading San Francisco-based private equity firms, in November, 2005, the terms of the sale allowed GeoVera Holdings to continue to use the USF&G Specialty brand until November, 2008.  Visit the News page for more information regarding the acquisition of St. Paul CATRisk Division.

4. How will the name change affect USF&G Specialty policyholders? 

Nothing will change for policyholders except for the fact that the USF&G Specialty name on their policy and correspondence will be phased out and the GeoVera Specialty name will be phased in.

5. How will this change affect wholesale broker agreements and procedures? 

New wholesale broker agreements that reflect the GeoVera Specialty Insurance Company name will have to be executed before November, 2008.  Otherwise, there will be no change to existing procedures. 

6. How will this change affect your service center, F&G Specialty Insurance Services, or the agents and customers who are serviced by it?

Nothing will affect the agents and customers who are serviced by F&G Specialty Insurance Services, other than the fact that the name will change to GeoVera Specialty Insurance Services, Inc..

7. Will the name change affect rates, coverage's, or underwriting guidelines? 

There will be no change to rates, coverage's, or underwriting guidelines as a result of this change.