ACCEPTANCE OF TERMS
To the fullest extent permissible pursuant to applicable law, the materials and software on this website are provided on an “as is” or “as available” basis and without warranties of any kind, either express or implied. BRUK disclaims all warranties, express or implied, including, but not limited to, any implied warranties of merchantability and fitness for a particular purpose. BRUK does not warrant that the website’s functions will be uninterrupted, non-infringing, or error-free, that any such defects will be corrected, or that this website or the server that makes it available are free of viruses or other harmful components.
All information on this website is for general informational purposes only, and is not offered as legal, accounting or other professional advice.
The descriptions of BRUK’s products and services on this website, including any sample forms or wordings, are not necessarily intended to be complete descriptions of all applicable terms, exclusions, and conditions and are provided solely for general informational purposes. Any statement regarding (re)insurance coverage herein is subject in all respects to the specific terms and conditions of the actual applicable policy or product or service agreement.
While BRUK uses reasonable efforts to include accurate and up-to-date information on this website, errors or omissions sometimes do occur [BRUK does not warrant or make any representations regarding the use or the results of the use, of any of the materials on this website in terms of their correctness, accuracy, reliability, or otherwise. Some jurisdictions do not allow the disclaimer of implied warranties, so the foregoing disclaimer may not apply to you if you are a resident of any such jurisdiction. You may also have other legal rights that vary from jurisdiction to jurisdiction.
LIMITATION OF LIABILITY
To the fullest extent permissible pursuant to applicable law, you understand and agree that under no circumstances, including, but not limited to, negligence, shall BRUK or the Company be liable to you for any direct, indirect, incidental, special, consequential, exemplary, or punitive damages that result from the use of, or the inability to use, the materials on this website, even if BRUK or the Company or an authorized representative of BRUK or the Company has been advised of the possibility of such damages. BRUK also assumes no responsibility, and shall not be liable for, any damages to, or viruses that may infect, your computer equipment or other property as a result of your access to, use of, or browsing of this website or your downloading of any materials, data, text, images, video, or audio from this website. Some jurisdictions do not allow the limitation of liability, so the foregoing limitation may not apply to you.
THIRD PARTY CONTENT
This website may contain hyperlinks to other websites which are not owned or maintained by BRUK. BRUK is not responsible for the content or privacy practices of such websites. These hyperlinks are provided solely for your convenience, and do not imply BRUK’s approval or endorsement of such sites or the content therein. We do not control such websites, and assume no responsibility for their content or accuracy. We accept no liability for any information, products, advertisements, content, services, or software accessible through such third party websites or for any action you may take as a result of linking to any such website. We recommend that you carefully read the privacy policies and user agreements of these sites, which will solely govern your use thereof.
OWNERSHIP OF INFORMATION
RESTRICTIONS ON USE OF MATERIALS
This website is owned and operated by BRUK. Except where otherwise indicated, all materials and software contained in this website, as well as their collection, arrangement, and assembly, are the copyrighted property of BRUK or the Company and are protected by U.K, U.S and international copyright laws. No materials from this website may be copied, reproduced, republished, uploaded, posted, transmitted, distributed, or otherwise commercially exploited in any way, except with the express written consent of BRUK. You may download material displayed on this website for your personal use only, provided that you do so without alteration, for non-commercial purposes only, and that all copyright and other proprietary notices appear in all copies in the same manner as the original. All other uses are prohibited.
You may not distribute, modify, transmit, reuse, repost, or use the content of this website for public or commercial purposes, including the text, images, audio, and video, without BRUK’s prior written permission. We neither warrant nor represent that your use of materials displayed on this website will not infringe rights of third parties.
You are prohibited from: (i) using this website for any unlawful, unauthorized, fraudulent, or malicious purpose; (ii) using this site in a method that could damage, disable, overburden, or impair any server, or any network connected to a server; (iii) interfering with another person’s use and enjoyment of this website; (iv) using data mining, robots, or similar data gathering and extraction tools with respect to any portion of the website; (v) gaining unauthorized access to accounts, computer systems, or networks connected to any server or systems; or (vi) accessing materials, systems, data, or information not intended by BRUK to be accessible to you or through any means not intentionally made available by BRUK.
All trademarks, service marks, trade names, logos, and icons are proprietary to BRUK and/or the Company. This proprietary information includes the website’s domain name, logos, page headers, graphics, and button icons. Use of the trademarks, service marks, trade dress, or other logos displayed on this website, without prior written authorization of BRUK or as otherwise provided herein, is strictly prohibited.
Any software accessible through this website is the property of BRUK, the Company, or outside suppliers, and is protected by U.K and/or U.S intellectual property laws and/or international treaties. Use of this software other than to utilize and navigate this website for its intended functions is prohibited, and you agree not to access this website’s content by any means other than the interface BRUK has provided. You agree not to copy, distribute, publicly display, alter, modify, decompile, disassemble, or reverse engineer or otherwise attempt to discover the source code of this software. BRUK does not authorize the downloading or exportation of any software or technical data from this website to any jurisdiction where such activity is prohibited by export laws and regulations. Accordingly, you shall not copy, transfer, or export this software in violation of any applicable export laws and regulations.
PASSWORDS AND SECURITY
BRUK requests that you do not send it any information that you consider to be confidential or proprietary through this website or by email. You acknowledge that there is a risk that information provided through the website may be accessed by unauthorized third parties because such information is not encrypted. Please note that if you do send us any such information or material, we will assume it is not confidential. By sending us information or material, you grant BRUK an unrestricted, irrevocable license to use, reproduce, display, perform, modify, transmit, and distribute this material or information, and you also agree that BRUK is free to use any ideas, concepts, know-how, or techniques that you send us for any purpose.
Except as expressly stated herein, the information contained on this website is not an offer to sell or a solicitation of an offer to buy any security, insurance product, or other product or service by BRUK or the Company. No security, insurance product or other product or service is offered or will be sold by BRUK or the Company or, if sold by such entity, will be effective in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities, insurance, or other laws of such jurisdiction. Those who choose to access this website do so by their own initiative and are responsible for compliance with local laws. Unless otherwise expressly set forth herein, BRUK makes no representation that the materials on this website are appropriate or available for use in any location. Due to various insurance and other regulatory restrictions, certain products and services described on this website may vary by jurisdiction and may not be available in or suitable for all jurisdictions. Further, this site is not intended for viewers in the United States of America or any other jurisdictions or country where the local laws and/or restrictions prohibit any of the activities transacted by the site.
BRUK is not licensed or otherwise authorized to conduct business in the United States and does not directly engage in or transact business in the United States through this site or otherwise. In certain circumstances, persons who are not US nationals or US corporations and their representatives may be able to transact insurance with BRUK through websites that are accessible through this site. Certain products and services described on this site are not available to all users due to insurance regulatory restrictions.
Enquiries as to insurance or other products or services from US residents should be directed to an insurance agent or broker licensed to conduct business in the relevant US state and, without prejudice to the foregoing, anyone requiring further information about an insurer’s ability to do business in the USA and US territories should contact an appropriate insurance intermediary for advice.
Safe Harbor Statement. This website may from time to time contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (U.S.), which provides a statutory “safe harbor” for forward-looking statements. Any written or oral statements made by or on behalf of the Company reflect current views with respect to future events and financial performance. These forward-looking statements are subject to uncertainties and inherent risks that could cause actual results to differ materially from those contained in any forward-looking statement. Please refer to W. R. Berkley Corporation’s filings with the U.S. Securities and Exchange Commission, including the most recent Forms 10-K and 10-Q, and any Forms 8-K since the most recent Form 10-K, for further information on such uncertainties and inherent risks and the “safe harbor” under the Private Securities Litigation Reform Act of 1995.
CHOICE OF LAW
AGREEMENT TO ARBITRATE
Website Privacy Notice
Who we are
In this policy, when we refer to “we”, “us” or “our”, it means Berkley Re UK Limited of the W. R. Berkley Corporation member companies. When we refer to “you” and “your” in this policy, we mean a living individual whose personal information we may collect. More information about W. R. Berkley Corporation member companies (“W. R. Berkley companies”) can be found on: www.wrberkley.com/our-business/operating-units
We are the controllers in respect of personal information for the products and services we provide to you. Protecting your personal information is extremely important to us. We have set out information below for anyone who uses our services. It will help them understand the way we collect, store and process personal information. Please take a few moments to read the privacy notice below, and share it with anyone else connected to the policy.
From time to time, we may change this privacy notice. Depending on the nature of the change, we will inform you of any such change through our written communications with you or through our website, www.berkleyre.com/emea
Personal information that we collect
When we refer to personal information, we mean information about a living individual which could be used to identify them. We collect and process limited personal information about you for the purposes highlighted in the “How we use your personal information” section. This may include:
- Basic personal details such as name, address, date of birth, contact details and gender
- Financial information such as account, direct debit or payment transactional information
- Information about your family, lifestyle and social circumstances, such as marital status, dependents, next of kin and employment type
- Information about your financial circumstances, including personal wealth, assets and liabilities and borrowing history
- Education, employment and other qualifications
- Photographs and/or video to help us manage policies and assess claims such as copies of identification documents
- Identification checks and background insurance risk details including previous claims information
- Criminal convictions relevant to your policy or claim
For certain events during the policy lifecycle, we will need to process specific and limited special categories of personal information, such as information relating to your physical or psychological health or detecting financial crime. We will only process special categories of information where we’ve obtained explicit consent from you or are otherwise lawfully permitted to do. This information will only be used for a particular purpose highlighted in “How we use your information” section. In most cases, this will only be required in a claim where an injury has occurred.
The personal information described above is not an exhaustive list as the actual personal information that we collect will depend upon the information that is provided to us in connection with the individual policy.
How we use your personal information
We will use the personal information you provide to us, together with other information for the following purposes:
- Administration of our policies
We need to process personal information to enable us to fulfil our contractual obligations to you including quote generation, policy underwriting and claims handling. This may involve sharing personal information with third parties such as loss adjusters, law firms, auditors and reinsurers.
- Comply with regulatory or other legal requirements
As a financial services company, we are authorized by financial regulatory authorities who impose law on us which we must comply with. In some cases, we will process and share personal information with these regulatory and enforcement agencies.
- Prevention and detection of fraud
We will process personal information to carry out checks to help detect and prevent fraud and financial crime using agencies such as credit reference agencies or using publicly available information.
- Provision of customer service
We will process personal information to enhance our customer service experience and relationship with you. It will also enable us to deal with queries and complaints that you may have. These queries are monitored and stored for future reference and can also be used for internal purposes such as quality assurance and training.
- Share personal information with other W. R. Berkley companies
We will process and store your information on record in order to carry out internal business administration and reporting.
We may process personal information to define our actuarial, pricing and underwriting strategies.
You are not obliged to provide us with personal information, but we cannot provide our products and services without it. Please see the “Your rights” section below.
Lawful basis for processing personal information
As part of data protection laws we can only process personal information where we have the legal grounds to do so. To use your information we rely on the following lawful basis for processing conditions:
- Perform our contractual obligations to you
We process your personal information to carry out our responsibilities to you resulting from any agreements you have entered to with us.
- Legitimate interests
We may process your personal information where it is in our legitimate interest to do so for example using and sharing your personal information for the purposes described in the “How we use your personal information” section.
- Compliance with a legal obligation
We may process your personal information where we are obliged to comply with applicable laws and regulation such as the prevention, detection and reporting of fraud and other financial crime.
We will only process sensitive personal data where you have given your explicit consent or for reasons of substantial public interest, for example, to prevent or detect unlawful acts or fraud or for an insurance purpose. Insurance purpose is defined to include advising, arranging, underwriting, administering, administering a claim under, exercising a right or complying with an obligation in connection with an insurance contract.
Where personal information is collected from
We collect information from you or your representative. Examples can include; when you apply for insurance cover, where you raise a claim and when you communicate with us through written, verbal and electronic communication. We may also collect information from publically available sources such as social media, the Electoral Register and Companies House. In some cases, we may also collect information from other person or organisations, for example credit reference and/or fraud prevention agencies, government and law enforcement agencies, insurance industry registers and databases and other involved parties (claimants or witnesses).
How long personal information is kept for
We will keep personal information only for as long as we need to, so as to administer your policy or until it is no longer required for legal, contract, litigation, regulatory purposes or as is otherwise necessary.
How information is shared
We may share your personal information with:
- Other W. R. Berkley companies
- Processors such as approved third parties, suppliers, contractors and surveyors who help with us with the purpose highlighted in the “How we use your personal information” section
- Other insurers for the purpose of reinsurance
- Financial crime prevention agencies, legal, regulatory or government bodies where we are required to comply with legal and regulatory obligations
Credit Reference and fraud prevention agencies
Specific personal information we have collected may be shared with approved credit reference agencies and financial crime prevention agencies to prevent fraud, money laundering and compliance with sanctions. This may include checks on your identity and addresses. Where we suspect financial crime or fraud, we may cancel any policies you have with us, we will not be able to pay any claim or offer you any other products or services. We may also share information about you with other organisations and public bodies, including law enforcement agencies.
We do not carry out targeted marketing campaigns, however, we process personal information to develop, improve, and personalise our product, pricing and services.
Automated decision making
We may use automated decision (including profiling) on the personal information we have to:
- Determine price, premiums and underwriting decision when you ask for a quote
- Prevent and detect fraud
- Facilitate sanctions checking
Where applicable, if you disagree with the outcome of an automated decision please contact us using the contact details in the “Your rights” section.
With regards to your personal information, you have the right to:
You can request a copy of the personal information we hold about you, subject to certain exemptions. We may charge for this if the request is deemed to be manifestly unfounded or excessive.
You can request to update, correct and complete your personal information to ensure it is accurate and up to date.
You can request us to delete where we hold your personal information if it is no longer needed or has no other lawful basis for processing.
You may object to us processing your personal information. We will either agree to stop using it or explain why we are unable to complete the request. If we do so, we may be unable to continue providing services related to the policy.
You can ask us to restrict the use of your personal information in certain circumstances, such as where you consider personal information we hold is inaccurate or being used for unlawful purposes.
You can ask for a copy of the personal information you provided to us, so you can use it for your own purposes in a portable format such as to use for another organisation.
You can ask us to limit or stop using your personal information, if processing is based solely on your consent.
If you wish to exercise your rights, please contact us at GDPRinfo@wrberkley.com
Please ensure that your request contain sufficient information to enable us to validate your identity and take appropriate action.
If you have any other question about how your information is processed or would like to make a complaint, please contact us in the first instance using the details provided in the “Your rights” section and we will be happy to investigate.
You also have the right to complain to the regulator, and to lodge an appeal if you are not happy with the outcome of a complaint.
If you would like to complain to the regulator, their details can be found on the following website, https://ico.org.uk/global/contact-us/
Sending data outside of the EEA
Data may be gathered using cookies and other similar technologies. A “cookie” is a piece of data that a web server may place on your computer when you visit a website. Cookies are commonly used by websites to improve the user experience. Many cookies last only through a single website session, or visit. Others may have an expiration date, or may remain on your computer until you delete them. Our cookies will track only your activity relating to your online activity on this website. Our cookies do not gather personal information.
You can decide if and how your computer will accept a cookie by configuring your preferences or options in your browser. You may change your browser settings to either reject cookies or notify you when a cookie is about to be placed on your computer. However, if you choose to reject cookies, you may not be able to use certain of our website’s features. If you wish to learn more about how to block or delete cookies please refer to your Internet Options or refer to www.microsoft.com for more detailed information.
For more information about cookies, visit www.allaboutcookies.org.
UK Tax Strategy
W. R. Berkley Corporation (“WRBC”), founded in 1967, is one of the US’s premier commercial lines property and casualty insurance providers. Each of the operating units within the WRBC Group participates in a niche market requiring specialized knowledge about a territory or product. Its competitive advantage lies in the long-term strategy of decentralized operations, allowing each unit to identify and respond quickly and effectively to changing market conditions and local customer needs. This decentralized structure provides financial accountability and incentives to local management and enables the group to attract and retain the highest calibre professionals.
Risk management is a core tenet of WRBC. In accordance with its long-term strategy, the WRBC Group is focused on generating superior risk-adjusted returns over the insurance cycle based on a real understanding of the amount of risk being assumed and the proactive management of risk exposures. As a business, WRBC instils a culture of trust, reliability and accountability with regards to risk taking activity, with risk management and auditable controls implemented to manage exposures.
The following six core principles underpin the culture within the WRBC Group companies and are central to the vision for how each WRBC Group company is managed and operates.
Management company-wide is focused on obtaining the best potential returns with a real understanding of the amount of risk being assumed. Superior risk-adjusted returns are generated over the insurance cycle.
The business is operated with an ownership perspective and a clear sense of fiduciary responsibility to shareholders.
New businesses are started when opportunities are identified and, most importantly, when the right talent is found to lead a business.
Risk exposures are managed proactively. A strong balance sheet, including a high-quality investment portfolio, ensures ample resources to grow the business profitably whenever there are opportunities to do so.
Consistent and objective standards are used to measure performance — and, the same standards are used regardless of the environment.
Risk management has been a core tenet of WRBC since its founding and is deeply embedded in its culture of managing all aspects of its business. A robust and proactive programme is maintained.
Approach to tax risk management and governance
In accordance with the Group’s requirement for effective risk management, the following articulates and sets out the key principles to guide and the expected outcomes from performing risk management activity:
- To protect and sustain shareholder value and to satisfy shareholder expectations.
- To enhance the resilience of the business through robust systems and controls, including reducing unintended exposures, thereby contributing to a ‘no surprises’ culture.
- To align risk management with the Business Strategy, Operating Model and Corporate Governance.
- To ensure management of risk in the business is proportional and practical to the nature, scale and complexity of the Group and its operations.
- To ensure there is clear ownership of risks and controls within the Group and its operations.
- To ensure there is effective, timely and insightful risk reporting to the Board/Committees.
- To integrate risk management into business as usual and to support and enable business decision making.
The majority of the companies in the UK Group are subject to regulation by one or more of the PRA, FCA and Lloyd’s. They therefore operate under a formal risk management framework, as required for regulatory purposes, which includes all types of risk to the business, including tax. The risk owner in relation to tax is the Chief Financial Officer of the relevant business unit, or the Group CFO, for cross-company change initiatives, or where there is no local CFO. The CFOs must work with the tax team, both in the UK and at WRBC, to identify and document the significant tax risks for the business.
The group seeks external tax advice to support transactions which fall outside the day to day tax compliance activities of the group, in particular where the transactions involve more than one jurisdiction, in order to ensure compliance with all applicable laws, to make use of available reliefs and to identify areas of additional potential tax cost. For items of significance, tax clearances, both statutory and non-statutory, are requested where available from the relevant tax authorities, in order to provide certainty over the tax treatment.
All tax sensitive items must be discussed with the relevant CFO and with WRBC tax prior to filing the relevant return. Consideration must be made as to the overall Group position, and not just that of a particular individual company.
Attitude towards tax planning
In accordance with WRBC’s Code of Ethics and Business Conduct, the Group is committed to complying with all applicable laws, regulations and corporate policies in all of the countries and jurisdictions in which it operates, and a strong focus is placed on tax compliance. Business transactions are reviewed and structured considering the most tax–efficient approach; however, tax follows the commercial requirements of the business rather than vice versa.
The Group’s overall strategy is to achieve a long-term risk-adjusted return on equity of 15% over the insurance cycle. Underwriting profitability is the core focus of WRBC while recognising that insurance is a long-term business and therefore the focus is not just on short term profitability but also on the volatility and unpredictability of the business. As a result, although tax is one of many components of ROE it is not a driver via planning to achieve the 15%.
Acceptance of risk
Insurance risk is actively sought by the Group and consequently insurance risk represents the most material element of the group’s risk and is the principal focus of the management of risk.
Tax is an operational risk of the business. Like all other non-insurance risks, the group does not seek tax risk; rather, tax risk is proactively managed and controlled to mitigate its potential impact. In line with the Group culture, vision and philosophy, the Group as a whole is willing to accept a slightly lower level of profitability in return for reducing its non-insurance risk. The Group considers that there are no material tax positions that would require disclosure under US GAAP.
Dealing with HMRC
WRBC’s Code of Ethics and Business Conduct requires all employees to work with others, including all business partners and clients, with trust, respect and integrity. In accordance with the Code, relations with HMRC must be conducted with respect and professional courtesy and must always reinforce and contribute positively to the Company’s reputation. All tax returns should be filed, together with any corresponding payments, by their due dates and full cooperation should be provided to HMRC on a timely basis.
Management of the UK Group’s relationship with HMRC, including in relation to tax enquiries and business risk reviews, is the responsibility of the UK tax team, with support as necessary required to be provided by the relevant non-tax personnel within the relevant business unit as well by WRBC tax in relation to group matters.
The WRBC UK Group considers that the publication of the above tax strategy complies with its duty for the financial year ending 31 December 2019 under Part 2 of Schedule 19 of the Finance Act 2016.
Modern Slavery Statement
This statement has been published in accordance with the Modern Slavery Act 2015 (“The Act”) and sets out the steps undertaken by Berkley Re UK Limited (BRUK) to prevent modern slavery and human trafficking in our business and supply chain.
BRUK is licenced by the UK Financial Conduct Authority (FCA) as an insurance intermediary and underwrites Treaty and Facultative Reinsurance. BRUK is a member company of W. R. Berkley Corporation, a large commercial lines insurer in the U.S. with its head office in Greenwich, Connecticut, United States.
Our supply chain is comprised of mainly UK based third party suppliers of services such as IT software/hardware, HR, legal, claims handling, recruitment, cleaning, marketing materials, stationery and security.
Experts and bodies, such as the Global Slavery Index and the Corruption Perception Index do not consider the UK or financial services – the business sector in which we operate, to be high risk for slavery and human trafficking. We do not have intricate supply chains and all our suppliers are expected to comply with all local and national laws, regulations and rules.
We have zero tolerance to slavery and human trafficking. As part of our due diligence to identify, mitigate and monitor risk, we endeavour to:
- Undertake a risk assessment of supplier relationships
- Incorporate provisions in our supplier agreements
- Incorporate the requirements of The Act into our internal policies and procedures
- Ensure staff training and awareness