Berkley combining two professional liability unitsReprints
W.R. Berkley Corp. said Wednesday it is combining two of its professional liability units into a single operating unit.
The Greenwich, Connecticut-based insurer said Berkley Select and Monitor Liability Managers, both based in Chicago, will now trade under the Berkley Select name.
Berkley said Berkley Select has operated as an underwriting manager specializing in professional liability products, including lawyers, accountants and miscellaneous errors and omissions, exclusively on a surplus lines basis.
Monitor Liability has been offering professional liability insurance, including accountants professional, private directors and officers, employment practices, lawyers professional and fiduciary liability to individuals, businesses, professional services firms and organizations nationwide on both an admitted and surplus lines basis, the statement said.
Berkley said Joseph G. Stores, who joined Berkley Select as president upon its 2007 launch and has been president of Monitor Liability since 2013, will continue as the new unit’s president.