Waterloo, Ont.-based Economical Insurance has appointed Edward Berko as chief risk officer (CRO). Berko has more than 25 years of experience in the field of enterprise risk management.

In the role of CRO, he reports directly to Karen Gavan, president and CEO, and is a key member of the executive committee and chairs the management risk committee (MRC).

Prior to joining Economical, Berko served as the chief risk officer and executive vice president at Montreal-based Protective Life Insurance Co. and Protective Life Corp. He served as managing director and chief risk officer for the investments department at MetLife. He has also served in a variety of positions as a senior executive at a number of financial services, management consulting and technology companies in the delivery of risk management systems and solutions.

Berko holds a bachelor of science degree and completed his MBA in finance through The Wharton School of Business at The University of Pennsylvania.

Economical Insurance is a Canadian-owned property and casualty insurers, with more than $1.8 billion in annual premium volume and $4.8 billion in assets