W.R. Berkley has appointed Michael Marcus as president of Berkley Industrial Comp. He assumes the role from Chandler F. Cox, Jr., who transitions to a chairman role for the company. Both appointments are effective immediately.
Marcus first joined Berkley in 2008 as regional director of its Key Risk business and has since served as the company’s vice president for sales distribution and business analytics. He has over three decades of experience in commercial property and casualty insurance and holds an Economics degree from Louisiana State University.
“Mike has done an exceptional job during his tenure, and he possesses the characteristics we look for in an outstanding leader,” said W. Robert Berkley, Jr., president and chief executive officer of W.R. Berkley. “Mike’s attributes, combined with his wealth of experience, make us exceedingly confident in his ability to lead the exceptional Berkley Industrial Comp team as they further build upon the business’s long history of success.”
Cox, meanwhile, co-founded Berkley Industrial Comp, then known as American Mining Insurance Group. He has served as the company’s president and chief executive officer since 2000. When the company was acquired by Berkley in 2007, Cox’s leadership was instrumental to the company’s transition from providing insurance protection for the coal mining industry to serving other high-hazard industries.
“We would like to thank Chan for his extraordinary contributions to Berkley Industrial Comp and W. R. Berkley Corporation over his many years of service. His vision in transforming the business to succeed in an ever-changing environment has been exemplary, and we are delighted that he will be continuing in this new role,” Berkley added.