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Target Markets Program Administrators Association Carriers Berkley Underwriting Partners, LLC “Underwriting expertise is the common denominator for all of our programs,” says Rick Cullen, head of business development for Berkley Underwriting Partners, LLC (BUP). “With programs ranging from animal mortality to used car dealers, we are focused not on size, industry, or class, but rather on the underwriting depth and experience within the offices of our program administrators. “In addition to the typical contractual relationship, we seek to employ groups of individuals who possess an industry following in a specific market niche,” says Cullen. BUP provides admitted and nonadmitted insurance carriers, program management, reinsurance support when required, and financial resources to program administrators nationwide. The company is a unit of W. R. Berkley Corporation, a commercial property/casualty insurance holding company. BUP underwrites on behalf of Gemini Insurance Company (nonadmitted) and StarNet Insurance Company (admitted). “Our preferred program opportunities consist of annual premium in excess of $10 million, with strong, documented premium and loss histories,” Cullen says. “We are a casualty-driven company, although we do have the ability to offer ancillary property and automobile products as well. We are not a market for workers compensation or personal lines offerings. “More important,” adds Cullen, “we write only program business. It is our belief that this focus allows for more efficient, effective processes, including the implementation of new programs as well as the oversight and management of existing programs.” The W. R. Berkley Corporation was founded in 1967. Each of its operating units participates in a niche market requiring specialized knowledge about a territory or product, Cullen says. “Our competitive advantage lies in our long-term strategy of decentralized operations, allowing each of our units to identify and respond quickly and effectively to changing market conditions and local customer needs,” Cullen says. “This decentralized structure provides financial accountability and incentives to local management, and enables us to attract and retain the highest caliber professionals. We have the expertise and resources to utilize our strengths in the present environment, and the flexibility to anticipate, innovate, and respond to whatever opportunities and challenges the future may hold.” Cullen adds, “Target Markets continues to be a great avenue for us to share our message with proven program administrators. It brings to us a much more focused audience, and it allows us to network with experienced insurance professionals who share our program concentration.” For more information on Berkley Underwriting Partners, please contact: Rick Cullen |
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