Profile: W. R. Berkley Corp (WRB.N)
2 Jul 2015
W. R. Berkley Corporation (W. R. Berkley), incorporated on January 20, 1970, is an insurance holding company. The Company operates in the three segments of the property casualty insurance business: Insurance-Domestic, commercial insurance business, including excess and surplus lines and admitted lines, primarily throughout the United States; Insurance-International, insurance business primarily in the United Kingdom, Continental Europe, South America, Canada, Scandinavia, and Australia, and Reinsurance-Global, reinsurance business on a facultative and treaty basis, primarily in the United States, United Kingdom, Continental Europe, Australia, and the Asia-Pacific Region.
The Company’s Insurance -Domestic operating units underwrite specialty risks within the excess and surplus lines market and on an admitted basis. The specialty lines of business include premises operations, commercial automobile, property, products liability and professional liability lines. Each operating unit delivers their products through a variety of distribution channels, depending on the customer base and particular risks insured. Other operating units provide insurance products and services that meet the specific needs of each regionally differentiated customer base. It provides commercial insurance products to customers primarily in 45 states and the District of Columbia in the United States. Key clients of the units are small-to-mid-sized businesses and state and local Governmental entities. In addition to providing insurance products, certain of its operating units also provide a variety of fee-based services, including claims, administrative and consulting services.
Operating units consisting of the Insurance-Domestic segment are: Acadia Insurance is a Northeast regional property casualty insurance company offering a portfolio of products exclusively through local independent agents in Connecticut, Maine, Massachusetts, New Hampshire, New York and Vermont. In addition to its general offerings, Acadia has experience in regional businesses and industries, such as construction, lumber and fishing; Admiral Insurance provides excess and surplus lines coverage for commercial risks that generally consist of hard-to- place, specialized risks that involve moderate to high degrees of hazard; American Mining Insurance offers workers' compensation insurance as well as general liability, automobile, and excess liability coverages to a range of firms within the mining and aggregate industries in the United States; Berkley Accident and Health underwrites accident and health insurance and reinsurance products in four primary areas: medical stop loss, managed care, special risk and group captive; Berkley Asset Protection provides products designed to protect a spectrum of high-value commercial and personal assets, including coverage for fine art risks, such as museums, galleries and corporate and private collections; fidelity/crime for commercial and public entity risks; jewelers block for wholesale, retail, manufacturing and mining risks, cash-in-transit carriers and certain inland marine risks, and Berkley Aviation offers a range of aviation insurance products, including coverage for airlines, helicopters, miscellaneous general aviation operations, non-owned aircraft, fixed-base operations, control towers, airports and other specialized niche programs.
The Company’s Insurance-Domestic operating unit also consists of Berkley Custom Insurance focuses on the excess casualty insurance market and offers umbrella liability, pollution liability, excess liability, construction wrap-ups and completed operations coverage to wholesalers, retailers, manufacturers, insurance companies, financial institutions and construction companies; Berkley Design Professional specializes in professional liability insurance products and services for the design professional industry, including architects, engineers and consultants; Berkley FinSecure serves the insurance needs of financial institutions, credit unions, mortgage lenders, mortgage servicers and trust managers; Berkley Life Sciences offers a spectrum of property casualty products to the life sciences industry on a global basis, including primary and excess liability coverage and commercial insurance; Berkley Medical Excess insures healthcare organizations, such as hospitals and clinics that retain a portion of their risk exposure through a self-funded mechanism and seek to maximize the effectiveness and efficiency of their excess risk financing program; Berkley Mid-Atlantic Group provides commercial property casualty coverages to a variety of businesses in Delaware, the District of Columbia, Maryland, North Carolina, Ohio, Pennsylvania, South Carolina and Virginia; Berkley Net Underwriters focuses on niche insurance products for small and medium-sized commercial risks, using a Web-based system to allow producers to quote, bind and service workers' compensation insurance products on behalf of W. R. Berkley Corporation member companies; Berkley North Pacific provides local underwriting, claims and risk management services from its home office in Seattle, Washington and branch offices in Boise, Idaho, Spokane, Washington and Salt Lake City, Utah; Berkley Offshore Underwriting Managers is a specialist global underwriter of energy and marine risks and provides specialty insurance products in the energy upstream, energy liability and marine sectors; Berkley Oil & Gas provides property casualty products and risk services to the United States energy sector; Berkley Professional Liability specializes in professional liability insurance for publicly traded and private entities-based in the United States and Canada; Berkley Program Specialists is a program management company offering both admitted and non-admitted insurance support on a nationwide basis for commercial casualty and inland marine program administrators; Berkley Public Entity specializes in public entities and intergovernmental pools or trusts; Berkley Regional Specialty provides excess and surplus lines coverage on a national basis to small to medium-sized insureds with low to moderate insurance risk; Berkley Risk Administrators provides insurance program management services to a variety of organizations, including self-insureds, captives, governmental entities, risk retention groups, and insurance companies; Berkley Select specializes in underwriting professional liability insurance with a particular emphasis on law firms, accounting firms and medical institution facilities.
The Company’s Insurance-Domestic operation units also include Berkley Specialty Underwriting Managers has two underwriting divisions, entertainment and sports division underwrites property casualty insurance products for the entertainment industry and sports-related organizations and environmental division underwrites specialty insurance products for environmental customers, such as contractors, consultants and owners of sites and facilities; Berkley Southeast offers an array of commercial lines products in six southeastern states: Mississippi, Alabama, Georgia, Tennessee, North Carolina and South Carolina; Berkley Surety provides an array of surety products for contract and commercial surety risks, including specialty niches, such as environmental and secured credit for small contractors, through an independent agency and broker platform across a network of 16 field offices; Berkley Technology Underwriters provides a range of first and third-party insurance programs for technology exposures and technology industries on both a local and global basis; Carolina Casualty Insurance provides commercial insurance products and services to the transportation industry with an emphasis on intermediate and long-haul trucking and various classes of business and public automobile coverage; Clermont Specialty Managers is a provider of package insurance programs for cooperative, condominium, rental apartment buildings and restaurants in the New York, New Jersey and Chicago metropolitan markets; Continental Western Group is a Midwest regional property and casualty insurance operation-based in Des Moines, Iowa, providing underwriting and risk management services to an array of regional businesses in thirteen Midwest states; Gemini Transportation is a national provider of excess liability insurance for various domestic surface transportation industry businesses; Key Risk Insurance is a provider of workers' compensation insurance products and services for employers in the public and private sectors throughout the Eastern United States; Midwest Employers Casualty provides excess workers' compensation insurance products to individual employers, groups and workers' compensation insurance companies across the United States; Monitor Liability Managers provides executive and professional liability insurance to small to middle-market risks on a nationwide basis; Nautilus Insurance Group insures excess and surplus lines risks for small to medium-sized commercial risks with low to moderate susceptibility to loss; Preferred Employers Insurance focuses exclusively on workers' compensation products and services for businesses in California; Riverport Insurance Services provides property casualty insurance coverages to human services organizations, including nonprofit and for-profit organizations, public entities, sports and recreational organizations, and self-insured companies, associations and purchasing groups; Union Standard offers preferred commercial property and casualty insurance products and services to a range of small to medium size commercial entities through independent agents in Arizona, Arkansas, New Mexico, Oklahoma and Texas; Vela Insurance Services specializes in commercial casualty insurance on an excess and surplus lines basis, and Verus Underwriting Managers offers general liability, professional liability and property coverages for small to mid-sized commercial risks in the excess and surplus lines insurance market through a select group of appointed wholesale brokers and agents.
The Company through its Insurance-International operating units writes business in almost 40 countries across the world, with branches or offices in 15 locations outside the United States, including the United Kingdom, Continental Europe, South America, Canada, Scandinavia, and Australia. Berkley Canada underwrites specialty, casualty and surety lines of business on behalf of the Canadian branch of Berkley Insurance Company. Berkley Canada specializes in commercial casualty and professional liability, and offers a portfolio of risk products that include commercial general liability, umbrella, professional liability, directors' and officers', commercial property and surety, in addition to niche products for specific industries, such as technology and life sciences. Berkley Latinoamerica is a provider of property, casualty, automobile, surety, group life and health and workers' compensation products and services in its operating territories of Argentina, Brazil and Uruguay. Berkley International Seguros offers a range of property casualty products in Argentina, where it is a provider of surety, engineering, cargo and personal accident coverages. Berkley International ART, Berkley Latinoamerica's workers' compensation carrier in Argentina, is focused on small to medium-sized risks in its operating territories. Berkley International Seguros do Brasil provides surety products to small and medium-sized risks throughout Brazil, and Berkley International Seguros (Uruguay) is a provider of customized property casualty insurance products and services to small and medium-sized businesses in Uruguay. W. R. Berkley Insurance (Europe) is-based in the United Kingdom with branches in Spain, Australia, Ireland, Norway, Sweden and Germany. W. R. Berkley Insurance (Europe) product offering includes professional indemnity, directors' and officers' liability, medical malpractice, general liability, personal accident and travel, engineering and construction. W. R. Berkley Syndicate 1967 at Lloyd's focuses on lines of business more global in nature and where access to the Lloyd's distribution platform allow the Company to expand its international reach. Lloyd's Syndicate 2791 Participation represents the Company's minority participation in a Lloyd's syndicate that writes a range of mainly short-tail classes of business. W. R. Berkley Insurance (Australia) underwrites general insurance business in Australia, including professional indemnity insurance for companies of various sizes.
The Company provides other insurance companies and self-insureds with assistance in managing their net risk through reinsurance on either a portfolio basis, through treaty reinsurance, or on an individual basis, through facultative reinsurance. Berkley Re America is a specialty treaty reinsurance underwriter with an emphasis on providing solutions for insurance companies, or units within insurance companies. Berkley Re America’s lines of business include general and products liability, environmental liability, professional liability, medical malpractice, automobile, umbrella and excess liability, workers' compensation, and property. Berkley Re Asia Pacific consists of the Australian, Hong Kong and Singapore branches of Berkley Insurance Company, provides property and casualty reinsurance to the Asia Pacific marketplace. Berkley Re Direct is a direct casualty facultative reinsurance underwriter serving clients through a nationwide network of regional offices. Berkley Re Direct also provides its customers value-added services across its lines, including underwriting, claims and actuarial consultation. Berkley Re UK writes international property casualty treaty accounts. Berkley Re UK’s territorial scope includes reinsured clients domiciled in the United Kingdom, Europe, Africa, the Middle East and the Caribbean. Facultative ReSources is a broker market casualty, professional liability and property facultative underwriter-based in Stamford, Connecticut with branch offices in Chicago, Atlanta and Los Angeles.
The Company competes with Swiss Re, Munich Re, Berkshire Hathaway, Transatlantic Reinsurance, and Partner Re.
W. R. Berkley Corp
475 Steamboat Rd
GREENWICH CT 06830-7144