Greenwich, Conn.-based W.R. Berkley Corp. said it has formed a new division covering agricultural risks, while London-based insurer Hiscox said its U.S. division is entering the inland marine business.
Berkley said it has formed Berkley Agribusiness Risk Specialists, a new division of Continental Western Group, LLC. The new unit, based in Des Moines, Iowa, will operate nationally and offer property-casualty insurance products to midsize and larger commercial agribusiness and related risks.
Terry Shaw was named division president, and Brad Waline and Brad London were named senior vice president of the division.
The company is also creating a new division in its Carolina Casualty Insurance Group, Gemini Transportation, to specialize in underwriting transportation excess liability insurance, such as railroad liability and vehicular coverage. Rocco P. Modafferi was named president of the new Boston-based division.
Hiscox said it will offer inland marine insurance to the U.S. market, hiring Steve Silverman to head up the operation as vice president. He was previously with American International Group’s wholesale insurer Lexington.