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Berkley Enterprise Risk

Insurance, United States, New York, New York City

Berkley Enterprise Risk specializes in providing comprehensive enterprise risk management solutions and cybersecurity insurance for businesses across various industries.

About Berkley Enterprise Risk

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Basics

Type
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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
United States of America, New York state
Official Website
http://www.berkleyenterpriserisk.com
Location Address Official Phone Email
United States of America, New York state United States, New York, New York City **** ****
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FAQs – Berkley Enterprise Risk

What is not covered by homeowners liability insurance?

Homeowners liability insurance does not cover intentional injuries or damage, business-related accidents, car accidents, or injuries to household members. It also excludes claims from certain restricted dog breeds or high-risk recreational activities.


What is reinsurance in the insurance industry?

Reinsurance is the practice where an insurance company transfers part of its risk to another insurer to reduce financial exposure and ensure stability in case of large claims.


How does CSR affect customer trust in an insurer?

A high CSR boosts customer confidence, indicating that the insurer efficiently processes claims, leading to better policyholder satisfaction and trust.


Can on-demand insurance cover shared economy services like Airbnb or Uber?

Yes, many on-demand insurance providers offer coverage for shared economy services, such as Airbnb hosts, Uber drivers, or renters. This ensures protection against liabilities, damages, or accidents during the period of use.


How does copayment affect prescription drug costs?

Many insurance plans require a fixed copay for prescription drugs, which varies based on the drug tier, with generic drugs usually having lower copay amounts.


What are the costs of short-term disability insurance?

Costs vary based on coverage amount, employer contributions, and whether the plan is individual or group-based. Employer-sponsored plans are often lower in cost, while individual plans may have higher premiums depending on the policyholder’s age, income, and health condition.


Why do insurers use treaty reinsurance?

Insurers use treaty reinsurance to spread risk, stabilize financial performance, manage capital more effectively, and comply with regulatory requirements. By ceding part of their risk to reinsurers, insurers can write more policies while protecting themselves from large losses.


What is a physical hazard in insurance?

A physical hazard refers to tangible conditions, such as faulty electrical wiring, slippery floors, or flammable materials, that increase the risk of a loss occurring.


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