Berkley Fire & Marine

What Berkley Fire & Marine does

Berkley Fire & Marine (BFM) is a U.S. inland marine and property insurance carrier operating as an autonomous unit within the W.R. Berkley Corporation (NYSE: WRB) group of insurance companies. Headquartered in Chicago, IL, with regional offices in Glen Allen, VA and Irving, TX, and a Cincinnati Service Center in West Chester, OH, BFM distributes exclusively through independent insurance agents and brokers nationwide. The company is A+ rated by A.M. Best and Standard & Poor's and focuses exclusively on inland marine and property coverage across three industry verticals: Construction (Builders' Risk, Contractors' Equipment, Installation Floaters, Riggers Legal Liability), Transportation (Motor Truck Cargo, Logistics Legal Liability, Warehouse Legal Liability, Freight Brokers), and Other Specialized coverages (Electronic Data Processing, Equipment Sales & Rentals, Medical Equipment, Bailees, Communication Equipment & Towers, Renewable Energy, Drones, Commercial Output Property, Mobile Agricultural Equipment).

BFM operates a proprietary insurtech platform comprising three integrated agent-facing tools: Xpress Quote (online builders risk quoting with three tiered options — Silver, Gold, Platinum — and policy terms from 3 months to 3 years), Xpress Service (online policy endorsement, modification, and cancellation), and the Document Center agent portal (billing, claims, policy documents, loss runs, staff directory). The company also maintains proprietary coverage forms including a Contractors' Equipment form with automatic replacement cost valuation for equipment 5 years old or newer, and a proprietary Logistics Legal Liability form for sophisticated third-party logistics customers. Revenue is generated through non-life insurance premiums, with pricing determined per risk rather than publicly disclosed. Marketing and distribution occur through co-branded agent materials, an email newsletter, the Agent Central portal, and a YouTube channel, with all policy issuance and servicing flowing through the independent agent and broker channel. BFM operates under W.R. Berkley's decentralized model, combining institutional capital, A+ ratings, and corporate resources with local, specialist underwriting decision-making authority.

The company is led by President Erin Rotz (appointed December 2025), Chief Operating Officer Rick Beasley, Chief Underwriting Officer Michael Tate, and a team of regional VPs. In January 2026, Japanese insurer Mitsui Sumitomo Insurance Co., Ltd. acquired a 12.5% equity stake in the parent W.R. Berkley Corporation, providing significant long-duration capital alignment, and the parent declared $1.50 per share in total 2025 special dividends signaling balance sheet strength.

Name

Berkley Fire & Marine

Legal name

Berkley Fire & Marine

Website

https://berkleymarine.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Berkley Fire & Marine is an A+ rated U.S. inland marine and property insurance carrier and operating unit of W.R. Berkley Corporation, distributing through independent agents and brokers with proprietary platforms serving construction, transportation, and other specialized industries.

Ownership category

akta.pro rank

Product category

Inland Marine Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Inland Marine Insurance (Transit, Equipment & Installation) (FSAJAHAB)

akta.pro secondary industries

Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ), Protection & Indemnity (P&I) / Marine Liability Insurance (FSAJAHAH)

Keywords

• Inland marine insurance
• Builders risk coverage
• Motor truck cargo
• Contractors equipment insurance
• Logistics legal liability

Headquarters

HQ city

Schaumburg

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Insurance Premiums: Berkley Fire & Marine generates revenue through non-life insurance premiums, specializing in inland marine and property insurance coverage. The company operates as a subsidiary of W.R. Berkley Corporation and issues policies through its network of independent agents and brokers.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Berkley Fire & Marine is an inland marine and property insurance carrier that underwrites and issues specialty insurance policies for construction, transportation, and other specialized industries. The company distributes its coverage exclusively through independent insurance agents and brokers, supported by proprietary digital platforms (Xpress Quote, Xpress Service, and Document Center) that enable online quoting, policy servicing, and document access. Backed by W.R. Berkley Corporation, it holds A+ ratings from A.M. Best and Standard & Poor's.

Product overview

Berkley Fire & Marine is a specialized inland marine and property insurance carrier and a W.R. Berkley Operating Unit. The company offers a comprehensive portfolio of insurance products organized around three core industry segments: Construction (Builders' Risk, Contractors' Equipment, Installation Floaters, Riggers Legal Liability), Transportation (Motor Truck Cargo, Logistics Legal Liability, Warehouse Legal Liability, Freight Forwarders & Brokers), and Other Specialized Coverages (Electronic Data Processing, Equipment Sales & Rentals, Medical Equipment, Bailees, Communication Equipment & Towers, Renewable Energy, Drones, Commercial Output Property, Mobile Agricultural Equipment). The company differentiates through technology platforms including Xpress Quote (online quoting system), Xpress Service (policy management), and Document Center (agent portal), which streamline the insurance process for agent and broker partners. Backed by W.R. Berkley Corporation's A+ ratings from A.M. Best and Standard & Poor's, the company operates with a decentralized model combining institutional resources with local responsiveness across regional offices in Chicago, Glen Allen, and Irving.

Differentiator

Problem solved

Functional benefit

Brands

• Xpress Quote: Online quoting platform for quick builders risk quotes
• Xpress Service
• Document Center

Products and services

• Builders' Risk Insurance product that protects against property loss exposures associated with construction projects, from residential to commercial and new construction to renovations. Sold to contractors, owners, and developers through independent agents and brokers.
• Contractors' Equipment Insurance coverage that protects tools and equipment supporting contractors' businesses, available on scheduled or blanket basis with flexible reporting terms; features a proprietary form with automatic replacement cost valuation for equipment five years old or newer. Sold to contractors through independent agents and brokers.
• Motor Truck Cargo Insurance coverage for cargo carried by motor carriers, served to small fleets and sophisticated third-party logistics providers using proprietary coverage forms. Sold through independent agents and brokers.
• Logistics Legal Liability Insurance coverage that protects against losses to third-party cargo and shipments, covering common and contract carriers, freight brokers, freight forwarders, and warehousemen. Sold to transportation and logistics businesses through independent agents and brokers.
• Warehouse Legal Liability Insurance coverage addressing legal liability for sophisticated third-party logistics warehouse operations, providing both proprietary and AAIS coverage forms. Sold to warehousemen and 3PL operators through independent agents and brokers.
• Electronic Data Processing (EDP) All-risk insurance coverage for data processing hardware and software, including complex EDP exposures such as hardware, software, and potential income losses. Sold to businesses with significant EDP exposures through independent agents and brokers.
• Equipment Sales & Rentals Insurance form that provides coverage for equipment held for sale and equipment offered for lease or rental, written under AAIS IM 7700. Sold to equipment dealers and rental businesses through independent agents and brokers.
• Commercial Output Property Commercial output property coverage protecting large organizations across industries against risks, covering building, business personal property, and business interruption exposures. Sold to commercial property clients through independent agents and brokers.
• Medical Equipment Insurance coverage for medical equipment property damage and income loss, including mobile diagnostic equipment used by practitioners across regions, written using AAIS Mobile Medical Equipment Coverage. Sold to medical practitioners and equipment providers through independent agents and brokers.
• Renewable Energy Insurance coverage addressing risks associated with solar panel and wind turbine installation and protection for contractors and insureds in the renewable sector. Sold through independent agents and brokers.
• Installation Floaters Inland marine coverage on property (usually equipment) being installed by a contractor. Sold to contractors installing equipment through independent agents and brokers.
• Riggers Legal Liability Insurance covering a contractor's liability arising out of moving property and equipment belonging to others, such as lifting air-conditioning units onto a roof with a crane. Sold to rigging and crane contractors through independent agents and brokers.
• Bailees Coverage on property entrusted to the insured for storage, repair, or servicing, typically purchased by dry cleaners, jewelers, repairers, and furriers. Sold through independent agents and brokers.
• Communication Equipment & Towers Coverage for broadcast equipment and towers, covering property and equipment associated with communications risks. Sold to communications industry businesses through independent agents and brokers.
• Mobile Agricultural Equipment Coverage for mobile agricultural equipment within Berkley Fire & Marine's inland marine appetite. Sold to agricultural operators through independent agents and brokers.
• Freight Forwarders & Brokers Coverage for freight forwarders and freight brokers within Berkley Fire & Marine's transportation offerings. Sold to freight brokerages and forwarding firms through independent agents and brokers.
• Drones Drone coverage within Berkley Fire & Marine's appetite for specialized inland marine exposures. Sold to commercial drone operators through independent agents and brokers.
• Xpress Quote Online quoting platform enabling independent agents to get competitive Builders' Risk quotes in seconds, featuring three customizable quote options (Silver, Gold, Platinum) with varying coverage and pricing structures.
• Xpress Service Online platform that enables independent agents to endorse, modify, and cancel Berkley Fire & Marine policies without submitting change requests.
• Document Center (Agent Portal) Self-service portal that gives independent agents access to billing, transaction status, claims, policy documents, staff directory, and other Berkley resources.

Quantifiable outcome

• Coverage for projects from $5,000 minimum building material limit (Builders Risk Xpress)
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Travelers Companies: Large publicly traded P&C insurer with a dedicated Inland Marine unit serving construction and transportation risks. Less specialized than BFM but competes head-to-head for Builders Risk and cargo accounts via agents and brokers.
• CNA Financial Corporation: US P&C carrier with inland marine specialty offerings for construction and transportation. Overlaps with BFM in Builders Risk, Contractors Equipment, and cargo lines.
• Chubb Limited: Global P&C giant with specialty inland marine capabilities targeting mid-to-large construction and logistics accounts. Broader portfolio than BFM but overlaps meaningfully in marine and property specialty segments.
• Zurich North America: Large global insurer with inland marine and construction risk capabilities in the US market. Competitor for larger Builders Risk and transportation accounts that BFM also serves.
• Liberty Mutual Insurance: Major US P&C carrier with inland marine offerings for construction, trucking, and logistics customers. Overlaps with BFM in Builders Risk, Motor Truck Cargo, and related lines, though distributed through a larger national network.

Emerging players

• Tokio Marine HCC: Specialty insurance group under Tokio Marine with growing inland marine and specialty property capabilities. Competes for specialty construction and transportation accounts; part of same global Tokio Marine group that has indirect relationship via Mitsui Sumitomo.
• ICW Group (Insurance Company of the West): Specialty commercial insurer with inland marine and transportation capabilities for small-to-mid fleet and contractor risks. Overlaps with BFM in core construction and trucking segments through independent agents.

Direct peers

• Markel Corporation: Specialty insurer with strong inland marine and transportation expertise, plus analogous specialty-insurer operating model. Highly comparable to BFM as a niche carrier focused on unusual/transactional P&C risks through independent agents.
• The Hanover Insurance Group: Specialty-focused US P&C insurer with inland marine and commercial property offerings distributed through independent agents. Comparable in go-to-market motion and specialty segment focus to BFM.
• Great American Insurance Company: Division of American Financial Group and one of the most established inland marine specialty insurers in the US. Highly comparable to Berkley Fire & Marine as a dedicated inland marine carrier serving construction and transportation risks through independent agents.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCFcZ8B1u2TSpz6M3BQTbMag
• Xx.com/berkleymarine
• Facebookfacebook.com/BerkleyFireMarine
• LinkedInlinkedin.com/company/berkley-fire-and-marine-a-berkley-company

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 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 Fire & Marine