Berkley Select Launches New Website and Logo

Berkley Select President, Dan Spragg, tells us more about the 2024 re-brand, the business's goals forthcoming this year, and the importance of small businesses investing in professional liability insurance.

Berkley Select just launched a new logo and look for the business. Dan, could you talk through the ideation behind the new aesthetic and what it represents?

We are very proud to roll out our new Berkley Select logo! After months of deliberation, we settled on the “winged S” insignia to represent our past as well as where we are going. We wanted a logo that represented more than just our name, but something about our business and our ideals. We felt that this logo was strong, showed motion and action, and was unique. The two primary colors represent the two product lines we insure - professional and management liability, seamlessly working together to become Select. Our hope is that when our customers see this logo they will think of our Skill, Speed, and Strength that make us the provider they want to do business with.

Berkley Select has been a leader in the segment for 32 years now – what are some of the goals you have for the organization?
My primary goal is to build on our legacy and increase our entrepreneurial spirit, flexibility, and skill to meet our customers' needs in a fast-changing world, wherever that leads. We have put into place a “rapid results” structure to develop the speed of our innovation and increase our focus and communications with our customers to make sure we understand what they value. We are also focusing our energy on building a culture that attracts and retains the best talent in our segment. The quality and commitment of our people is the key to serving our customers and to our success.

You have decades of experience in the management and professional liability markets. What advice would you give to small businesses and law firms who may be on the fence about purchasing this extra liability coverage in a softer market?
In the end, we sell a product; and like any product, the customer will buy it if their perceived value is higher than the cost. As a former risk manager, I understand our insureds' challenge to assess the cost of insurance against the value it provides. In our current environment of rapidly increasing costs of litigation and “social inflation” driving up the cost to settle a claim, businesses and law firms need to reassess the value of insurance each year. I would recommend they work with their advisor to find the right limits and terms, and go with a provider with the financial strength and claims handling track record to meet their needs in those difficult times when they need them. Right now, companies are competing for your business, so it’s a good time to buy.

Congratulations on recently being one of the winners of the Best Places to Work award by Business Insurance America. Can you tell us a little more about the factors that went into Berkley Select winning this award?

We are very proud of our team and the culture they have built that brings us this recognition. Our employees were surveyed last year and reported a high amount of job satisfaction including factors such as work/life balance, flexibility, benefits, and more. We will be celebrating throughout the year in recognition of this achievement. We recently brought over 100 of our employees together for a “casino” themed party here in Chicago. Other events are in the works, but our primary focus is to take time to have fun this year and appreciate each other and the opportunity we have to work together to help our customers every day.