Berkley Select

What Berkley Select does

Berkley Select is a Chicago-based management and professional liability insurance underwriting unit and wholly-owned subsidiary of W. R. Berkley Corporation (NYSE: WRB, Fortune 500, S&P 500). Founded in 1992 as Monitor Liability Managers, it has operated under the Berkley Select brand since 2007 and was combined with its sister underwriting unit in 2018 to form a single specialty liability platform. The company is rated A+ (Superior) by A.M. Best and AA- (Very Strong) by S&P through its parent's insurance subsidiaries.

The company underwrites and services a portfolio of specialty liability products distributed exclusively through appointed retail and wholesale insurance producers across the United States. Core product lines are Executive Liability (Directors & Officers, Employment Practices Liability, Fiduciary, Crime, and Nonprofit Liability), Lawyers Professional Liability (marketed under the AttorneyShield sub-brand), Accountants Professional Liability, and Affinity Programs for industry-specific niches. Cumulative scale includes 300,000+ attorneys insured since 1994, 100,000+ nonprofit liability policies, 45,000+ executive liability policies, and combined claims paid exceeding $1.9B across product lines, serviced by an in-house claims team averaging 21 years of experience with 70% licensed attorneys.

Berkley Select generates revenue through recurring annual insurance premiums on a quote-based, risk-tailored pricing model, with products delivered on both admitted and surplus lines bases. The technology stack includes the Express Portal (producer-facing digital quote/bind for EPL accounts), an online payment center, and integrated risk management portals operated by partners Zywave, Hinshaw & Culbertson, and Barron & Newburger. The company employs 101-250 people, has been named a Business Insurance Best Places to Work for three consecutive years (2023-2025), and operates with the operational autonomy of a small specialty underwriter backed by the balance sheet and ratings of a Fortune 500 parent.

Name

Berkley Select

Legal name

Berkley Select

Website

https://berkleyselect.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

101–250 employees

Short description

Berkley Select is a Chicago-based specialty liability insurance underwriting unit (a W. R. Berkley subsidiary) that provides management and professional liability coverage (D&O, EPL, fiduciary, crime, nonprofit, plus Lawyers and Accountants Professional Liability) to lawyers, accountants, private companies, and nonprofit organizations, distributed exclusively through appointed producers across the United States.

Ownership category

akta.pro rank

Product category

Management and Professional Liability Insurance

NAICS

Insurance Carriers and Related Activities (524), Agencies, Brokerages, and Other Insurance Related Activities (5242), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Management Liability (D&O/EPL/Fiduciary) (FSAJAGAD)

akta.pro secondary industries

Professional Liability (E&O) (FSAJAGAC), Professional Liability (Errors & Omissions) (FSAJADAB)

Keywords

• Management liability insurance
• Professional liability insurance
• Directors and officers coverage
• Employment practices liability
• Lawyers professional liability

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Marketing or Sales, Technology or R&D

Revenue model

1. Insurance Premiums: Berkley Select generates revenue through insurance premiums collected from policyholders for management and professional liability coverage including D&O, EPL, Lawyers Professional Liability, Accountants Professional Liability, and related products.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Berkley Select provides management and professional liability insurance coverage, including Directors and Officers (D&O), Employment Practices Liability (EPL), Fiduciary Liability, Crime, Nonprofit Liability, Lawyers Professional Liability, and Accountants Professional Liability. Products are underwritten for privately held companies, nonprofit organizations, professional services firms (law firms and accounting practices), and affinity/niche industry programs, and are distributed through appointed retail and wholesale insurance producers nationwide.

Product overview

Berkley Select is a management and professional liability insurance provider offering a comprehensive portfolio of insurance products. The core offerings include Executive Liability products (D&O, EPL, Fiduciary, Crime, and Nonprofit Liability), Lawyers Professional Liability (with AttorneyShield as a specialized sub-brand for law firms), Accountants Professional Liability, and Affinity Programs for industry-specific niches. Products are distributed through wholesale and retail insurance professionals and are backed by W. R. Berkley Corporation's A+ rated insurance subsidiaries. The company operates with branded program names including ExecSuite for executive liability and ExecShield for nonprofit coverage.

Differentiator

Problem solved

Functional benefit

Brands

• AttorneyShield: Specialized portfolio of management and professional liability insurance offerings tailored for law firms, including Employment Practices Liability coverage for attorneys.
• ExecCrime
• ExecSuite
• ExecShield

Products and services

• Executive Liability Comprehensive executive liability insurance products protecting directors and executives in corporate governance for privately held companies, nonprofit organizations, and professional services firms. Includes D&O, EPL, Fiduciary, and Crime coverages.
• Directors and Officers (D&O) Liability Insurance protecting personal assets of directors and officers from allegations of failing to act in the organization's best interest. Includes third-party liability coverage and privacy violation coverage.
• Employment Practices Liability (EPL) Stand-alone EPL coverage protecting businesses against claims or lawsuits alleging employment-related wrongdoing such as discrimination, harassment, and wrongful termination. Covers private and public companies up to 2,000 employees.
• Fiduciary Liability Insurance protecting businesses and employers against claims for mismanagement of employee benefit plans such as retirement or health plans. Covers benefit plan administrators from allegations of negligence and breaches of duty under ERISA.
• ExecCrime Crime insurance product protecting businesses from financial losses caused by employee dishonesty, forgery, computer fraud, social engineering scams, funds transfer fraud, and counterfeit currency. Coverage limits up to $5 million.
• Nonprofit Liability Management liability insurance protecting nonprofit organization assets and individual directors, officers, employees and volunteers from expenses arising from allegations of wrongful acts.
• Lawyers Professional Liability (LPL) Professional liability insurance for lawyers ranging from sole practitioners to mid-sized law firms (up to 100 attorneys). Includes predecessor firm coverage, broad definition of legal services, and automatic 60-day extended reporting period.
• AttorneyShield Specialized portfolio of EPL and management liability insurance offerings tailored for law firms. Includes D&O, EPL, and fiduciary coverage with enhancements specific to law firm exposures such as failure to make partner coverage.
• Accountants Professional Liability Professional liability insurance protecting accounting professionals against claims alleging malpractice. Covers individual CPAs, bookkeepers, and small to mid-sized firms up to 100 professionals with revenues up to $10 million.
• Affinity Programs Tailored insurance programs for specific industry niches incorporating technology, product development, and marketing support. Includes Miscellaneous E&O, Employment Practices Liability, Accountants, Ancillary Healthcare, and Lawyers Professional Liability programs.

Quantifiable outcome

• $1.5 billion in accountants professional liability claims paid
• +6 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• ZywavecoreStrategic or Co-development PartnerBerkley Select has partnered with Zywave, an HR risk management expert, to provide policyholders with an HR hotline staffed by HR professionals and a Self Service portal with state-specific handbook builders, job description tools, and ADA compliance resources.
• Hinshaw & Culbertson LLPcoreStrategic or Co-development PartnerProvides small law firms (up to 10 attorneys) with up to 5 hours of complimentary CLE courses, up to 4 hours of hotline consultations with risk management attorneys, and access to a dedicated risk management website.
• Barron & Newburger, P.C.coreStrategic or Co-development PartnerProvides mid-size law firms (11+ attorneys) with concierge-level risk management services including comprehensive risk assessments, personalized consultation, an online resource center, and on-demand CLE programs.
• 8am LawPayminorGTM or Marketing PartnerBerkley Select is an alliance partner of 8am LawPay, ensuring attorneys accept payments in compliance with ABA and IOLTA guidelines. Policyholders receive 3 months of 8am LawPay without a monthly fee.
• BambeeminorGTM or Marketing PartnerBerkley Select partnered with Bambee, an outsourced HR consulting firm offering a suite of services including expert HR guidance, dedicated HR managers, and employee onboarding/terminations. Policyholders get 50% off their one-time set up fee.
• USI AffinityminorChannel Partner/ Reseller/ DistributorUSI Affinity and the American Bar Association announced a new partnership with Berkley Select for professional liability insurance offerings.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Hiscox: Hiscox is a direct competitor in professional liability and specialty insurance for small-to-mid market professional services firms and businesses, with comparable offerings in D&O, E&O, and professional indemnity for lawyers, accountants, and consultants.
• CNA Financial: CNA is a direct peer in professional liability for lawyers, accountants, and management liability coverages including D&O and EPL, with overlapping mid-market distribution through retail and wholesale producers.
• Beazley: Beazley is a direct competitor in specialty professional liability and management liability lines, with comparable expertise in lawyers', accountants', and D&O E&O coverage for professional services firms.
• Markel Group: Markel is a direct peer in specialty insurance including professional liability, management liability, and specialty E&O, with a comparable focus on niche segments and underwriting expertise as a core differentiator.
• James River Group: James River Group is a specialty insurance holding company with comparable E&S-focused commercial liability offerings, overlapping with Berkley Select in management liability and specialty professional lines for difficult-to-place risks.

Broad incumbents

• Travelers: Travelers offers professional liability, management liability, and D&O products for professional services firms as part of its broad P&C portfolio, competing with Berkley Select for the same mid-market accounts but with a much wider product suite.
• Hartford Financial Products: The Hartford offers D&O, EPL, fiduciary, and professional liability coverages as part of its commercial lines portfolio, overlapping with Berkley Select's executive liability and EPL offerings for private companies and nonprofits.
• Chubb: Chubb offers professional liability, D&O, and management liability insurance as part of its global specialty and commercial P&C portfolio, competing with Berkley Select for larger and more complex professional services accounts.
• AIG: AIG provides professional liability, D&O, and management liability coverage as part of its broad specialty insurance portfolio, competing with Berkley Select for professional services firm accounts across multiple lines.
• AXA XL: AXA XL offers professional liability, D&O, and specialty E&O coverages as part of its global specialty insurance business, competing with Berkley Select particularly in the larger-law-firm and accountant segments.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/berkleyselect
• Xx.com/berkleyselect

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Berkley Select