Source: http://www.businesswire.com, July 13, 2015
W. R. Berkley Corporation (NYSE:WRB) today announced the creation of Berkley Construction Professional Liability Underwriters, a W. R. Berkley Company^®, to provide professional liability, pollution liability and protective coverages for contractors and project owners across all forms of non-environmental construction. Products will be available on both a primary and excess basis through W. R. Berkley Insurance Group members rated A+ (Superior) by A.M. Best Company, Inc.
Raymond F. H. Bustamante has been named executive vice president of Berkley Construction Professional Liability Underwriters. Mr. Bustamante has 25 years of property casualty insurance industry experience specializing in design and construction professional liability. He is a graduate of Valparaiso University, with a Bachelor of Arts in international economics.
In making the announcement, William R. Berkley, chairman of the board and chief executive officer of W. R. Berkley Corporation, commented: “Ray is a highly experienced veteran in the construction professional liability market who was instrumental in developing many of the products in use today. We are pleased to have such an innovator lead an experienced team in offering solutions that address the often unique risks that contractors and owners/developers face.”
For further information about the products and services available from Berkley Construction Professional Liability Underwriters, please contact Ray Bustamante at (973) 600-0926 or rbustamante@berkleycp.com.
Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates in three segments of the property casualty insurance business: Insurance-Domestic, Insurance-International and Reinsurance-Global.
This is a “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including statements related to our outlook for the industry and for our performance for the year 2015 and beyond, are based upon the Company’s historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. They are subject to various risks and uncertainties, including but not limited to, the success of our new ventures or acquisitions and the availability of other opportunities, our ability to attract and retain key personnel and qualified employees, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission. These risks could cause actual results of the industry or our actual results for the year 2015 and beyond to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. Any projections of growth in the Company’s revenues would not necessarily result in commensurate levels of earnings. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Products and services described above are provided through various surplus lines insurance company subsidiaries of W. R. Berkley Corporation and offered through licensed surplus lines brokers. Not all products and services may be available in all jurisdictions, and the coverage provided by any insurer is subject to the actual terms and conditions of the policies issued. Surplus lines insurance carriers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.