Joseph L. Sullivan was named president of Facultative Resources in 2012. He has over 20 years of experience in property casualty reinsurance and most recently served as Fac Re's executive vice president and chief operating officer, having joined W. R. Berkley Corporation in 2010.
Facultative ReSources, Inc. (Fac Re) provides facultative reinsurance intermediaries and their ceding company clients with facultative solutions that are responsive to even the most complex risk management challenges. We pride ourselves on both the speed and quality of our responses. As a market leader, we embrace the long-term outlook of our business, as evidenced by our 26 plus years of dedication to the broker market.
Fac Re, established in 1985, provides solutions for our clients across many lines of facultative business. Our technical expertise and four underwriting offices allow us to respond to our client’s needs in an insightful and efficient manner. We are based in Stamford, CT with branch offices in Chicago, Atlanta and Los Angeles. As the market landscape and the facultative buying habits of our customer base are always shifting, we are well positioned to quickly identify and capitalize on opportunities as they arise.
Our individual risk and program product offerings include:
- Professional Liability
In 2011, Facultative ReSources drew upon its long and credible history and rich reservoir of underwriting experience to broaden its expertise in a number of specialized areas, including professional liability and property hazards in emerging technologies.
How Facultative ReSources is Different
Because facultative underwriting operates in a world of adverse selection, it is perhaps the purest form of underwriting, relying on the experience of its underwriters to determine premiums sufficient to provide for losses and expenses, while allowing a return on capital commensurate with the actuarial uncertainty inherent in excess of loss reinsurance placements. To that end, Fac Re has, over the past 26 years, accumulated an enormous amount of data pertaining to the excess casualty and property business that adds depth to the judgments we make. Our underwriters, actuaries and claims staff are an impressive team of highly experienced risk evaluators, well known to reinsurance intermediaries and ceding company professionals alike. We have a willingness to review almost any type of account and provide our clients with meaningful solutions that are both quantifiable and qualitative. And our promise to pay, within the terms of the policy, is well established. These are the things that make Fac Re different than the competition.
About W. R. Berkley Corporation
W. R. Berkley Corporation, founded in 1967, is one of the nation's premier commercial lines property casualty insurance providers. Each of the operating units in the Berkley group participates in a niche market requiring specialized knowledge about a territory or product. Our competitive advantage lies in our long-term strategy of decentralized operations, allowing each of our units 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 us to attract and retain the highest caliber professionals. We have the expertise and resources to utilize our strengths in the present environment, and the flexibility to anticipate, innovate and respond to whatever opportunities and challenges the future may hold.
Three Stamford Plaza
301 Tresser Blvd., 8th Floor
Stamford, CT 06901
Tel: (203) 658-1500
Fax: (203) 658-1515
Tel: (770) 418-8000
Tel: (312) 435-1231
Los Angeles, CA
Tel: (213) 623-2349
Facultative ReSources underwrites reinsurance on behalf of Berkley Insurance Company (BIC), a leading U.S. domestic professional reinsurance company, and a member company of W. R. Berkley Corporation.
Berkley Insurance Company
A.M. Best Rating
Financial Size Category
Standard & Poor's Rating