Berkley Service Professionals, a division of Berkley Alliance Managers, a Berkley company, specializing in professional liability insurance products for miscellaneous non-medical service professionals, announces the launch of their new Manufacturers E&O product.
“As a leader in the miscellaneous professional liability insurance market, we continually look for new ways to meet the needs of our wholesalers, brokers and policyholders,” said Tom Rea, Executive Vice President, Berkley Service Professionals. “We are pleased to expand our product offering to include Manufacturers E&O coverage.”
The Manufacturers E&O product covers two primary risks: damages caused by an alleged product or work defect resulting in a third-party financial loss and any related litigation expenses, excluding bodily injury or property damage. It can help protect a manufacturer from financial loss while also safeguarding its reputation.
Berkley Service Professionals’ Manufacturers E&O offers policies for U.S.-domiciled companies with revenues up to $250 million, with coverage limits up to $3 million on a primary basis and up to $5 million on excess. Each policy can be tailored to fit the manufacturer’s unique exposures and is offered on a primary or excess basis. Pollution coverage may also be available.
Rea added, “Our team of highly experienced insurance professionals is dedicated to providing the best service and coverage options for professional liability risks. Our experience enables us to understand the inherent professional liability exposures and risks for service professionals, including manufacturers.”
About Berkley Service Professionals
Berkley Service Professionals is a premier provider of Professional Liability Insurance products for miscellaneous and nonmedical services. Berkley Service Professionals excels at writing complex accounts and providing customized E&O coverage solutions. For more information, visit berkleysp.com. Berkley Service Professionals is a division of Berkley Alliance Managers, a member of W. R. Berkley Corporation, a Fortune 500 company that is listed on the New York Stock Exchange, is part of the S&P 500 and whose insurance company subsidiaries are rated A+ (Superior) by A.M. Best.