2008-06-01 17:29:23 -
www.gumc.com - Please replace the release dated May 30, 2008 with the following corrected version due to multiple revisions in the boilerplate.
The corrected release reads:
GENESIS ANNOUNCES RESTRUCTURING AND APPOINTMENT OF ROBERT M. JONES AS CHIEF OPERATING OFFICER
Genesis Underwriting Management Company is pleased to announce the restructuring of its core business segments, which operate as
three separate underwriting units: Public Entity; Captive & Reinsurance; and Commercial Insurance. As part of the reorganization, the three divisions will report to Robert M. Jones, who has been appointed Chief Operating Officer and will report to Patricia H. Roberts, the Company's President and Chief Executive Officer. "Bob's appointment will bring even greater focus on the benefits of increased product specialization to the clients and markets Genesis serves," said Ms. Roberts.
The Public Entity Division provides comprehensive property and casualty insurance and reinsurance protection for individual public entities, purchasing groups, pools and trusts that manage and retain risk exposures. It offers specialized products and maintains a dedicated claims staff to meet public sector risk transfer needs. The Captive & Reinsurance Division services three market segments: group captives; single parent captives; and risk retention groups. This division has established expertise in a variety of industries in order to more specifically tailor reinsurance solutions to each segment. The Commercial Insurance Division provides admitted property, general liability, and products liability insurance to program administrators who manage homogeneous groups of business.
Joseph L. Majsak, formerly Manager of the Casualty Division of Genesis's affiliate, General Star Management Company, has been appointed Chief Marketing Officer. In this role, Mr. Majsak will oversee the new Marketing Services Division, which was created to provide focused marketing and product development services.
The Company's Claim and Administration units will report to Victoria J. Seeger, Genesis's Chief Underwriting Officer, in addition to her current Underwriting Services Division responsibilities.
"With these changes, we have enhanced the Genesis brand, and will be well-equipped to provide the best resources to serve our clients," said Bob Jones. "Each division will continue to develop more customized products, services and claims handling to meet our clients' unique needs."
Genesis Insurance Company, Genesis Indemnity Insurance Company and Genesis Underwriting Management Company are subsidiaries of General Reinsurance Corporation, which is owned by Berkshire Hathaway Inc. Genesis Insurance Company is licensed in all states, the District of Columbia and Puerto Rico. Genesis Indemnity Insurance Company is licensed only in North Dakota and operates as an eligible surplus lines insurer in the District of Columbia, Puerto Rico, the Virgin Islands and all states except New Hampshire and North Dakota. Insurance is placed with the Genesis companies by licensed retail brokers and, for risks that qualify, by licensed surplus lines brokers. Genesis Insurance Company and Genesis Indemnity Insurance Company are rated A++ (Superior) by A.M. Best Company and have a AAA Insurance Financial Strength Rating from Standard & Poor's Corporation.
Genesis Underwriting Management Company
Joe Majsak, SVP, 203-328-6416
joe.majsak@gumc.com 
