How Berkley Service Professionals Helped a Broker Turn a Crisis into a Long-Term Success

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By Tom Rea
Executive Vice President, Berkley Service Professionals, a Berkley Company

August 12, 2025

Success in excess and surplus (E&S) lines insurance is not only about having the most competitive pricing or the broadest coverage. It’s also about partnership, problem-solving and putting in the work when the stakes are high. Berkley Service Professionals is built around these values.

Here’s how we helped one broker rescue a key client after a seven-figure loss and why brokers continue to count on us for fast, reliable solutions to their most complex errors and omissions (E&O) challenges.

A Broker in Crisis

The broker’s client was a seasoned insurance professional who experienced a single, substantial claim under the agency’s E&O policy. Ultimately, the agency received a non-renewal notice, and their broker had to approach the market for a new solution.

The broker worked hard to find the same $5 million coverage limit, but most markets either declined the risk or provided only retro-inception coverage, leaving the client without prior acts protection. With the expiration date just weeks away, the broker asked for help from Berkley Service Professionals.

A Collaborative Process

We reviewed the seven-figure claim details with the broker and saw it for what it was: an unfortunate, isolated incident at an otherwise well-run insurance agency with no prior claims.

To confirm that understanding, our underwriting team arranged a call with the insured’s leadership, general counsel, and producers. This gave them the chance to explain what had happened and to share the safeguards they had put in place to prevent future claims.

This conversation showed a level of professionalism, transparency, and proactive risk management that gave our underwriters the confidence to take on the risk. We offered the full $5 million policy the client needed, including prior acts coverage. Two years later, we’re still on the account, and the relationship with the broker is stronger than ever.

Why Brokers Choose Berkley Service Professionals

This example shows the value we provide to brokers through our extensive underwriting insight, engagement and speed of service.

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Knowing the Policy Helps Brokers Provide Top-Notch Service

Posted by & filed under BSP Blog.

By Tom Rea
Executive Vice President, Berkley Service Professionals, a Berkley Company

January 22, 2025

As an insurance professional, it’s vital to have a good understanding of professional liability insurance policies. It’s especially important to know what the policy covers and how it responds to various incidents that may occur. Whether your client works in real estate services, insurance services or other service industries, you can provide better assistance if you are well-versed in the nuances of professional liability insurance policies. To prepare yourself for any questions your client may have, it’s important to know who qualifies as an insured, what professional services are covered, what endorsements are needed and what exclusions are in the policy.

Who is an Insured?

For Berkley Service Professionals’ Professional Liability policies, an insured typically is the Insured Organization, which means any named insured designated on the policy declaration, and any subsidiary, which is generally defined as an entity in which the named Insured owns more than 50% interest.

In addition, an independent contractor and an employee are both considered insureds, but only for services performed on behalf of the organization. Other individuals who may qualify as insureds include a partner, principal, officer, director, shareholder, managers, and members, but only for services performed on behalf of the organization.

Finally, named insureds and additional insureds may be added via endorsements to the policy. If you have any questions, always refer to the policy for specific and complete definitions and speak with an underwriter for additional clarification.

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