W. R. Berkley Corporation Forms Berkley Global Product Recall Management

GREENWICH, Conn.--(BUSINESS WIRE)-- W. R. Berkley Corporation (NYSE:WRB) today announced the formation of Berkley Global Product Recall Management, a W. R. Berkley Company^®, to aid all types of businesses throughout the world in the prevention and management of product recall incidences. Products and services will be available through the W. R. Berkley Corporation network of companies. W. R. Berkley Insurance Group is rated A+ (Superior) by A.M. Best Company, Inc.

Louis Lubrano has been named president of Berkley Global Product Recall Management. Mr. Lubrano has more than 30 years of property casualty insurance industry experience, including over 10 years as a leader in crisis management.

Philip Rorty has been appointed chief underwriting officer. He brings to that position nearly 40 years of insurance and risk management experience as both an insurance leader and a corporate risk manager. Tamra Maupin is joining the new operating unit as chief operating officer, with more than 15 years of experience in the insurance market.

William R. Berkley, chairman of the board and chief executive officer of W. R. Berkley Corporation, commented: “Product recall is a growing area of property casualty insurance with many opportunities. Lou has significant expertise and experience in developing solutions that can not only contain costs in the event of a loss, but also provide consultancy services that can help in the prevention of a loss. We are pleased to have these seasoned and highly respected executives join our Company.”

For further information about the products and services available from Berkley Global Product Recall Management, please contact Lou Lubrano at (917) 635-3921 or [email protected].

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 are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued.

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W. R. Berkley Corporation

Karen A. Horvath, (203) 629-3000

Vice President – External

Financial Communications

Source: W. R. Berkley Corporation