Naperville, Illinois, November 10, 2016 — Berkley Program Specialists, together with Specialty Program Solutions (SPS), recently created a new inland marine program to help protect mobile equipment and machinery used by logging, lumbering and construction companies located in the Southeast.
Coverage for first party physical damage is extended to trade-specific items such as skidders, feller bunchers, log loaders, delimbers, chippers, backhoes, bulldozers and excavators. Eligible risks include chipping operations, land clearing operations, woodyards, sawmills, timber dealers, grading/excavation contractors, general contractors and developers among others.
“With the focus and attention that Berkley Program Specialists offers to niches like this, we are confident we have the right provider to help build a market leading program in short order. And we’ve already seen success as a result of their familiarity with the class and the flexibility they’ve demonstrated,” said Jeff Vaughn, Vice President of Specialty Program Solutions.
“When you handle this business all day every day like SPS, you master it and that’s exactly the type of expertise you want when the risks are this unique,” said Greg Douglas, President of Berkley Program Specialists. “They are incredibly focused and service-oriented which shows in the long-standing relationships they have developed with agents and clients.”
About Berkley Program Specialists: Berkley Program Specialists, a W. R. Berkley Company®, is a leading insurance operation dedicated exclusively to program business. Berkley Program Specialists provides program administrators with underwriting authority and access to admitted and non-admitted A.M. Best A+ rated insurance paper, as well as program management expertise, and, when required, reinsurance support. For more information, please visit www.berkley-ps.com.
About Specialty Program Solutions: Specialty Program Solutions (SPS) is a program administrator and managing general agent headquartered in Alpharetta, Georgia. SPS underwrites insurance coverage solely for inland marine risks. In addition to its flagship program for logging and contractors equipment in the Southeast, SPS serves agents and customers nationwide for a wide variety of other classes including builder’s risk, fine arts and transportation among others. For more information, please visit www.spsins.com.
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. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.