Berkley expanding product recall business

W.R. Berkley Corp. said Monday it is broadening its Berkley Global Product Recall business and changing its name to Berkley Product Protection.

The insurer said in addition to product recall coverages, it will offer product liability, general liability and excess liability coverages that will be available for a wide array of medium to high hazard risks, including manufacturers, wholesalers and importers. 

The new coverages will be primarily offered on an admitted basis with targeted effective dates beginning Jan. 1, 2023, the insurer said.

Joining Luis Rivera, who has served as president of Berkley Global Product Recall since May 2022, will be Ken Shoop, senior vice president and product liability chief underwriting officer, and Allison Daly, senior vice president and chief claims officer.

Mr. Shoop was previously with Hartford Insurance Group, according to his LinkedIn profile, and Ms. Daly was previously with Marsh & McLennan Cos. Inc.