W.R. Berkley Corp.’s Berkley One is expanding into two more states and launching its flood insurance cover in new markets.

Berkley One, an ultra-high-net-worth personal lines insurance brand, is now operating in Florida and Ohio, adding to its operations in New York, Connecticut, Illinois, Colorado, Arizona, Minnesota and Wisconsin. In addition, Berkley One has begun offering its flood insurance product to eligible Ohio, New York and Connecticut clients. That primary flood coverage is now available for home, condo and renters insurance clients in eligible B, C and X zones in Illinois, Ohio, New York and Connecticut, with additional states expected to follow, according to the company.

Berkley One works with select independent agents to offer home, automobile, fine art and collectibles, excess liability, and travel insurance coverage and services.

Kathleen Tierney, Berkley One’s president, said the expansion and flood insurance product launch represents a big step for the startup, which debuted its initial coverage in late 2017.

“Florida is a place where many of our clients and potential clients have secondary and vacation homes. We’re excited to provide coverage in this pivotal state to meet the needs of individuals, families and agents we serve across the country,” Tierney said in prepared remarks. “Similarly, our launch into Ohio deepens our Midwest reach and enables us to serve more clients and agency partners.”

Berkley One claims it now covers 46 percent of the high-net-worth auto and home market with the addition of Florida and Ohio to its market reach. The company and Tierney said its state and product launches were made possible through a development process involving collaboration with agents.

“We have a culture of co-creation here at Berkley One,” Tierney said. “As we built our flood product, we invited agent partners into our product design lab and learned through iteration what our clients and agents needed most.”

Source: Berkley One