GREENWICH, Conn.--(BUSINESS WIRE)--
W. R. Berkley Corporation (NYSE: WRB) today announced the formation of two independent operating units, Berkley Entertainment & Sports and Berkley Environmental. These units, which previously comprised Berkley Specialty Underwriting Managers (Berkley Specialty), have grown and evolved into independently successful businesses.
Berkley Entertainment & Sports provides a full portfolio of proprietary and standard insurance coverages to artists and professionals, special events, professional sports teams and sporting facilities, venues, and other entertainment related operations. Available coverages include commercial general liability, umbrella, inland marine, workers’ compensation, business automobile and property in all fifty states. Its operations will continue to be led by Cindy Broschart, president of Berkley Entertainment & Sports, who joined Berkley Specialty in 2004 and has 40 years of experience in the property casualty insurance industry.
Berkley Environmental provides customized environmental risk solutions world-wide for a wide range of businesses, including contractors, consultants, laboratories, landfills, waste treatment, recycling and manufacturing facilities. It offers a broad range of environmental products and programs for virtually all classes of risk, including contractors pollution liability, professional liability and site specific pollution liability, as well as general liability, automobile liability, excess liability and workers compensation. The business will remain under the direction of Kenneth J. Berger, president of Berkley Environmental, who joined Berkley Specialty in 2009. He has nearly 35 years of experience in the property casualty insurance industry.
W. Robert Berkley, Jr., president and chief executive officer of W. R. Berkley Corporation, said: “Berkley has a long track record of combining knowledge and capital to create successful businesses like these with sustainable competitive advantages. Establishing them as independent operating units will provide greater focus on their niche businesses, enable them to more broadly leverage the specialized expertise of their teams and create greater opportunities for our distribution partners. Cindy and Ken have both demonstrated skillful leadership, and we are excited about the opportunities before them.”
Celebrating 50 years, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty insurance business: Insurance and Reinsurance. For further information about W. R. Berkley Corporation, please visit www.wrberkley.com.
Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.
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