Berkley Specialty London’s Head of Commercial Property, Olly Durell, sits down with our newly signed Property Underwriter Jack Royce, to discuss how he’s settling in, and the team’s ambitious growth plans for Q4 and beyond.
Olly Durell sits down with our newly signed Property Underwriter Jack Royce, to discuss how he’s settling in, and the team’s ambitious growth plans for Q4 and beyond.
Type: Blog post
We are delighted to announce that Berkley Specialty London has been awarded the prestigious Gracechurch Claims Service Quality Marque (SQM) in 2025. This accolade is a testament to our unwavering commitment to delivering exceptional claims service and upholding the highest standards in the industry. Ben Bolton, Managing Director of Gracechurch, commented: , “Berkley Specialty London achieves the Service Quality Marque in 2025; this is the result of a clear ambition and determination to be the best, resulting in a top quartile performance throughout 2024. Berkley Specialty London’s ‘no stone unturned’ approach to service is highly valued by the claims community, and rightly so.”, , What is the Gracechurch Claims SQM?, The Gracechurch Claims SQM is an independent accreditation awarded annually to claims teams that consistently deliver outstanding service quality. It is a highly respected benchmark in the insurance industry, recognising excellence and dedication to customer satisfaction. , Commitment to Excellence, At Berkley Specialty London, we believe that exceptional claims service is the cornerstone of our business. Our team is dedicated to providing prompt, fair, and transparent claims handling, so our clients receive the support they need when it matters most. This award validates our efforts and motivates us to continue striving for excellence. Receiving the Gracechurch Claims SQM is a…
Berkley Specialty London has been awarded the prestigious Gracechurch Claims Service Quality Marque (SQM) in 2025.
Type: Blog post
John Naughton, Manager - Product Recall, Berkley Specialty London When you hear about product recalls, it’s easy to think of them as just another headline. But if you dig a little deeper, you start to see just how much they reveal about the world we live in. They’re not just about consumer safety—they’re about the complex, and sometimes fragile, connections between manufacturers, distributors,…, consumer trust, once lost, can take years to rebuild., For companies navigating this landscape, having the right partners makes all the difference. At Berkley Specialty London, we’ve spent nearly a decade helping businesses face these specific challenges head-on. From our perspective, the past year tells us a lot about the growing pressures on industries and where we’re heading: , The numbers behind the trend, Across much of the western world, recalls are on the rise. In the US, the number of recall incidents has steadily risen year on year since the Covid pandemic and the number of food, drink and cosmetics recalls reached a 4 year high in 2024 with nearly 2,000 recalls reported by the Opens in new tab FDA . In Europe, the number of EU Food RASFF notifications increased 15% in 2024, reaching an 8…, The industries feeling the heat, Food & Beverage leads the pack, comprising nearly 60% of all recalls. Mislabelling, contamination, and health risks dominate this sector’s issues. Take the recent Salmonella outbreak in cucumbers from Agrotato, S.A. de C.V., which Opens in new tab affected 68 people across 19 states in the U.S., leading to hospitalizations and cascading recalls by other companies. This one event ended up…, The hidden cost of Recalls for insurers, These examples highlight a critical issue: many companies simply don’t have the financial resources to cover the aggregated effects of a recall. That raises a bigger question for insurers. , If the aggregated losses cannot be recovered from the company causing the loss, who picks up the tab?, The chances are that the losses will be attributed to insurers and there is little chance that insurers will get their money back from the company that caused the loss in the first place. This leaves insurers as the primary lifeline, but not all insurers have the experience, or capacity, to navigate such complex claims. At Berkley Specialty London, we’ve built a dedicated team that focuses…, The role of regulators, While recalls address problems after the fact, regulators are focusing on prevention. In 2024, key regulatory updates have aimed to minimize risks: In the, Food & Beverage, sector, the FDA has enforced stricter allergen labeling and Salmonella controls, while the USDA has introduced new standards for poultry safety. In, Automotive, , updated IATF guidelines and stricter emissions standards are shaping the future of electric vehicles and recycling processes. These evolving regulations are a reminder that staying compliant is as much about foresight as it is about adaptation. , Looking ahead to 2025, The reality is, as long as production and supply chain issues persist, so too will recalls. Consumers, too, are becoming more vigilant, using online tools to stay informed about affected products. 2025 will bring its own challenges, from potentially tighter food safety rules to regulatory shifts. Increased recall cost related to tariffs on ingredients/components, improved pathogen testing and…
John Naughton explores how the complexities of product recalls and what’s driving their growth in today’s world.
Type: Blog post
Q&A with Laurence Woodford, Head of Engineering & Construction at Berkley Specialty London. , How did you start off in the insurance market?, I started in insurance after finishing my A-levels. I took on a 3-month internship at Berkley Specialty London in their Engineering team, which then led to a job offer as an Underwriting Assistant. , What has been your career path since then?, I spent 2.5 years as an Underwriting Assistant, then a further 2.5 years as an Assistant Underwriter. During this time I studied for my ACII and once qualified was promoted to a full Underwriter. After 3 years I was promoted to Senior Underwriter and 1.5 years into this role, I was promoted to Head of Department; a role I have held for the past 3 years. By working hard I’ve been successful in…, What do you like most about your role?, From the outside looking in, I think insurance has a reputation for being a bit ‘dry’ but once you start to understand the industry it becomes genuinely interesting. In my job I am essentially putting a price on risk – which is something unquantifiable – and so I have to rely on a mixture of data and analysis along with knowledge and judgement in order to do this. I enjoy the social side of the…, What do you like most about Berkley Specialty London?, I’ve been with WRB my whole career and the main reason is probably down to the fact that they really let you create your own pathway. If you want to go in a certain direction and you can prove that you are adding value, then the business will help you to get there. Even though the Berkley businesses are part of a big corporation, each of these businesses operates within a decentralised…, What advice would you give to school-leavers who are thinking about insurance as a career?, Apply! You don’t have to be a university graduate to get access to this industry. If you are hardworking there is a lot of scope to do well and make a real success of yourself – personally, financially and professionally. Learn more about our career opportunities and available roles here .
Discover how a successful career in the insurance industry can begin with an internship. Read Laurence Woodford’s Q&A to learn more.
Type: Blog post
Elliott Goss, Chief Claims Officer Looking back, 2003 seems a distant memory. The second Gulf War in Iraq led to the toppling of Saddam Hussein. A fresh-faced Swiss man called Roger Federer won Wimbledon, the first of his 20 Grand Slam titles. And Myspace made its debut as one of the world’s first social media platforms. It was also the year that I started in insurance. In historical terms…
Elliott Goss reflects on his two decades working within claims.
Type: Blog post
Charles Perry, Head of Cyber, Berkley Specialty London On the 12th of January, 2024 Microsoft announced that it had detected a “nation-state attack.” Moreover, Microsoft publicly attributed it to Russia and emphasised the urgent need to move faster to counter continuous risks from well-resourced nation-state threat actors.[, i, ] While there has been no apparent catastrophic disruption, the attack provokes thought about the ever-increasing complexities and challenges of modelling and managing a profitable portfolio of cyber risk in a world where technological advancements are outpacing us (think AI). In the context of a world with very fragile and heightened geopolitical tensions, and immeasurably interdependent…, State Backed Cyber-Attacks (SBCA), First, SBCAs. Microsoft’s announcement and attribution is interesting given the turbulent introduction of the Lloyd’s Market Association’s war clauses. While this purported state-backed Russian attack continues to develop, the event may provide a useful scenario for stress-testing the modernised clauses. Was it just a warning shot or was it intended to have a catastrophic impact? Either way,…, Contingent Business Interruption (CBI) / Dependent Business Interruption (DBI), Second, Microsoft clearly has a huge market share. Put to one side bargaining power, a vast number of businesses in the world simply depend on its products and services in one way or another, knowingly or unknowingly (scheduled or unscheduled within a cyber policy). In this competitive landscape, there have been notably increased line sizes and broader coverage for CBI and DBI. Microsoft’s attack…, Swans and cables, The term “Black Swan” (popularised by Nassim Nicholas Taleb) is often used to describe an event that is extremely rare, has a major impact, and is unpredictable or unforeseen. The less commonly used term “White Swan” refers to one that is rare and potentially significant but is foreseeable and predictable. In The Dark Cloud (2023), Guillaume Pitron points out that “99% of the world’s data traffic…, TeleGeography[, ii, ], ). Microsoft’s recent attack should therefore help steer the cyber insurance market towards better understanding and management of the exposures that come with a portfolio of cyber risk, and helping to ensure portfolios are prepared for and resilient to whatever swan it may be. [i] Opens in new tab https://www.microsoft.com/en-us/security/blog/2024/01/25/midnight-blizzard-guidance-for-…
Charles Perry takes a closer look at the attack and explores the wider implications for the cyber insurance market.
Type: Blog post
Describe your career to date, I began my insurance career in a UK composite Insurer as an underwriter some years back (!), which was a great springboard into the world of insurance. This enabled me to take on several diverse roles such as underwriting, sales and distribution and training. After a few years working for a US Specialty Insurer in a sales management role, I was lucky enough then to be approached by someone…, Why Berkley Specialty London?, Berkley businesses have been underwriting Technology Insurances in the US for a considerable number of years, so there’s a great depth of understanding and experience of this unique class of business. Berkley Specialty London has a real commitment to the sector and in particular our London market partners. A major advantage to me is the Group’s decentralised business structure, which enables us…, What inspires you about the sector and what makes Berkley Specialty London’s Technology offering stand out?, I have always found the Technology sector to be a vibrant and fast paced environment. I have a real passion for the subject matter – I am genuinely enthused to meet clients and understand their businesses and drivers and create solutions that provide true long-term value and security. Our Technology PI and Cyber product has been developed with careful consideration to what’s important to our…
Matt Sumpter explains why he is excited to develop our technology portfolio and outlines what makes our offering stand out in the market.
Type: Blog post
Empowering our customers with innovative solutions and trading efficiency.
Type: Page
Name, Job title, Company, Thomas Poynder, Senior Underwriter Property and Transportation Binders , What’s your specialism?, US and Canadian Transportation focusing on Auto Physical Damage, Motor Truck Cargo, Garage Keepers Legal Liability, and Dealers open lot. , Why Berkley Specialty London?, Berkley Specialty London has provided me with a great opportunity to advance my career in a collaborative environment, where the cross class underwriting teams share experiences and learn from each other. Here, underwriters are empowered with the authority and responsibility to proactively underwrite opportunities on their merits with efficiency. Additionally, having a focus on innovation and…, WHAT’S ON YOUR RADAR FOR 2024?, For me, the face-to-face part of relationship building is incredibly important in creating successful long-term partnerships. So, I’m looking forward to attending upcoming market events such as the MCIEF, Target Markets and WSIA annual conferences to continue building our market presence and partnerships with our existing brokers, coverholders and agent partners. This not only benefits those…, WHAT ARE THE BIGGEST CHALLENGES AND OPPORTUNITIES IN YOUR MARKET AT THE MOMENT?, The growth of online rating systems has the potential to offer great benefits. It’s the time savings for the brokers and insureds that will provide a more efficient user experience when seeking quotes in a highly transactional market. However, this opportunity presents its own challenge. If all markets utilise those systems, it could cause a race to the bottom when it comes to pricing meaning…, WHAT DO YOU SEE AS BEING KEY FACTORS TO A SUCCESSFUL RELATIONSHIP WITH UNDERWRITERS AND BROKERS?, I truly believe that service speed, honest communication, and a focus on building a long-term book together (versus one-off deals) is the key to a successful underwriter-broker relationship. The priority then is on the growth and profitability that both sides would see over the long-term, rather than short-term gains. , HOW ARE INNOVATIONS IN TECHNOLOGY IMPACTING THE INDUSTRY?, While I value creating face-to-face relationships, technology still has an ever-growing role in underwriting today. In particular, I am intrigued by the evolving potential of data use. The combination of improvements in data modelling and machine learning with driver behaviour and loss claim pattern information aims to derive better, faster insights from large trucking datasets. Finding a partner…, How important is ‘face to face’?, Face-to-face underwriting is a key advantage of the London and Lloyd’s market. It provides an unparalleled training experience for junior brokers and underwriters, who gain hands on experience of pricing, risk selection, and negotiation skills. Which would have otherwise taken far longer to learn from a fully e-trading market. Additionally, the Lloyd’s face-to-face market enables the negotiation…, WHAT HAS BEEN THE HIGHLIGHT OF YOUR CAREER?, It’s hard to pinpoint what has been the highlight of my career, as there are still many things to look forward to achieving. But a day that will always stick with me was sitting at the box in Lloyd’s and, after careful negotiation and pricing analysis, putting my first stamp down on a slip contract. , What’s the best piece of advice you have received?, Work with people you enjoy spending your time with – After all, you’ll spend almost every day with them!
In our recent Q&A, we sit down with Thomas Poynder, Senior Underwriter Property and Transportation Binders.
Type: Blog post
Name, Job title, Company, Steven Hale, Executive Director, Howden Insurance Brokers , What’s your specialism?, Property Claims , How did you get into insurance?, After finishing college I had no idea what I wanted to do but was looking for an office based role. I was offered a chance to join CE Heath insurance brokers in Southend as a trainee claims technician and have been working in the industry ever since. , What has been the highlight of your career?, Playing a significant part in revolutionising the claims process at Howden, moving the team away from paper files, creating a processing hub and initiating automated processes that have resulted in a more efficient operation which has significantly benefitted our Client offering. , What are the biggest challenges your clients face today?, Trying to bridge the gap between the two main principals on any claim, the Insurer and the Insured. Often communication gets distorted when third party experts and counsel speak on insurers behalf and the same on the insured side also. I try to encourage risk managers on all accounts to engage with claim insurers pre-loss but that is not always possible. A better understanding of how ‘London’…, Who is your ‘go to’ person at Berkley Specialty London and why?, I have worked with Dan Trenkel for several years and he is always a pleasure to interact with. Dan is always fair with his assessments on claims and has an excellent understanding of the communication required to maintain commercial relationships for the large account business that we handle. , HOW ARE INNOVATIONS IN TECHNOLOGY IMPACTING THE INDUSTRY?, Innovation in our systems is vital for the London market to stay relevant. Internally we already implement several automated process. I am heavily involved in the broker consultation for Blueprint Two and the market needs to embrace this evolution to improve communication with its Clients and provide a more efficient service. , How important is ‘face to face’?, ‘Face to face’ is absolutely essential and it is a major reason why business is placed into London. We are fortunate to work in a very accessible square mile which gives us a massive advantage over international carriers and we should always utilise that by developing ‘in person’ business relationships. , What’s the best piece of advice you have received?, Always act with integrity and if you are unsure on anything always ask.
In our latest broker Q&A, we sit down with Howden’s Executive Director, Steven Hale.
Type: Blog post
