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GREENWICH, Conn., Sep 18, 2009 (BUSINESS WIRE) -- W. R. Berkley Corporation (NYSE: WRB) today announced the formation of Berkley Oil & Gas Specialty Services, LLC. Berkley Oil & Gas, based in Houston, Texas, will provide a multi-line insurance product offering, including general liability, auto liability, workers' compensation, umbrella, control of well, inland marine, property and risk control services in the domestic energy sector. Berkley Oil & Gas will underwrite on behalf of W. R. Berkley Corporation member insurance companies rated A+ (Superior) by A.M. Best Company, Inc., Financial Size Category XV. Its distribution channels will include retail agents and brokers.
Carol Randall has been named president of Berkley Oil & Gas. Ms. Randall has more than 20 years of experience in the commercial insurance industry, with a primary focus on oil and gas risks. She most recently served as chief underwriting officer for oil and gas with a major insurer. Ms. Randall earned a Bachelor of Science in Management from Louisiana State University and holds the Chartered Property and Casualty Underwriter (CPCU) designation.
William R. Berkley, chairman of the board and chief executive officer of W. R. Berkley Corporation, said: "We are delighted to have Carol join us as the leader of this new operating unit to leverage our existing presence in the oil and gas marketplace. Our two distinct underwriting entities, Berkley Oil & Gas and Berkley Offshore - - which is headed by Frank Costa - - will expand the oil and gas insurance product portfolio offered by the W. R. Berkley Corporation group of companies and provide an expanded platform for our service to the energy industry."
For further information about the products and services available from BerkleyOil & Gas, please contact Carol Randall at crandall@berkleyoil-gas.com or 281-687-5893. For information regarding current employment opportunities at Berkley Oil & Gas, please e-mail your resume to careers@berkleyoil-gas.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 five segments of the property casualty insurance business: specialty insurance, regional property casualty insurance, alternative markets, reinsurance, and international.
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 2009 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 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 2009 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 net premiums written and service fees would not necessarily result in commensurate levels of underwriting and operating profits. 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.
SOURCE: W. R. Berkley Corporation
W. R. Berkley Corporation
Karen A. Horvath, 203-629-3000
Vice President - External
Financial Communications
Copyright Business Wire 2009
