W. R. Berkley Corporation today announced the formation of two independent operating units, Berkley Entertainment & Sports and Berkley Environmental, after these segments grew into independently successful businesses and evolved out of Berkley Specialty Underwriting Managers.
W. Robert Berkley, Junior 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.”
Berkley Entertainment & Sports provides full proprietary and standard insurance cover to the full range of entertainment related activities, businesses, artists and professionals.
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.
And Berkley Environmental will provide environmental risk solutions globally for a wide range of businesses, including contractors, consultants, laboratories, landfills, waste treatment, recycling and manufacturing facilities.
The unit will offer solutions for all classes of environmental risk, and will remain under the direction of Kenneth J. Berger, president of Berkley Environmental, who joined Berkley Specialty in 2009, and boasts nearly 35 years of experience in the property casualty insurance industry.