WR Berkley, a US-based insurance holding which deals in property casualty insurance business, has hired Michael Foley as president of Berkley Risk Administrators Company with immediate effect.He succeeds BRAC founders Mark Tansey and Kenneth Hopkins.
Mr Foley has more than 25 years of experience in the insurance industry. He joined WR Berkley in 1995, and served as president and CEO of Berkley medical excess underwriters. Previously he founded Midwest Employers Casualty Company, another WR Berkley member company, serving as its first CEO. Both BerkleyMed and Midwest Employers Casualty Company provide excess insurance and reinsurance coverages to self-insured entities in many of the same markets in which BRAC currently operates.
BRAC provides insurance program management services to several organizations including self-insureds, captives, governmental entities, risk retention groups and insurance companies. It is also a nationwide third-party administrator of workers’ compensation and property/liability claims, and the nation’s second largest servicing carrier for workers’ compensation assigned risk plans, now serving plans in 20 states.
William Berkley, chairman of the board and CEO of WR Berkley said: “We thank Mark and Ken for their service and are confident that Mike’s very specialized experience in working with self-insured clients will serve BRAC well.”