Berkley Technology to Cover U.S. Tech Business through Lloyd’s

Berkley Technology Underwriters, LLC, a Minneapolis-based global technology underwriter and part of the W.R. Berkley Group, announced that it has “been accredited as a Coverholder on behalf of Lloyd’s of London. As a Coverholder, Berkley Technology Underwriters is able to secure locally accepted insurance coverage around the world for its U.S. technology clients.”

Coverage is provided under Lloyd’s licenses through W. R. Berkley Syndicate 1967, a Lloyd’s syndicate underwriting a worldwide portfolio of insurance and reinsurance risks.

Berkley Tech said its arrangement with Lloyd’s “allows for a range of first- and third-party insurance coverages, from the coverage of property such as electronic processing data equipment, to public and general liability.”

“Our mission is to help U.S. technology companies manage their risks wherever they do business,” noted Matthew Mueller, president of Berkley Technology Underwriters since its launch in 2011, who has more than 30 years of experience in insurance underwriting for technology companies.

“U.S. technology companies doing business globally are at risk to any number of complex situations and Berkley Technology Underwriters is prepared to provide the solutions they need to navigate those risks,” he added. “Our arrangement with Lloyd’s, will offer us broad new capabilities to serve the needs of our technology clients wherever they venture to expand their markets.”

Mike Sibthorpe, chief executive of W. R. Berkley Syndicate 1967, welcomed “Berkley Technology Underwriters as a Coverholder on our behalf, indicating that the syndicate is “confident that our alliance will add great value to their business partners and clients worldwide, based on the strong credentials that Berkley Technology Underwriters has in the technology market.”

Source: Berkley Technology Underwriters

Topics USA InsurTech Excess Surplus Tech Underwriting Lloyd's