Berkshire Hathaway Expands Into Contract Surety Business

(BRK.A), (BRK.B)

Berkshire Hathaway’s Berkshire Hathaway Specialty Insurance (BHSI) is moving into contract surety, adding it to the company’s builder’s risk and construction casualty risk offerings that serve the construction industry.

BHSI appointed Geoff Delisio as Senior Vice President, Surety, reporting to David Bresnahan, Executive Vice President, BHSI. Delisio was previously a Senior Vice President, Surety, at Zurich. BHSI is headed by Peter Eastwood.

The company has been expanding its specialty insurance offerings.

Other New BHSI Offerings

Last month, BHSI announced a move into travel insurance with AirCare™, which it is offering to travelers, travel agencies, tour operators and travel suppliers.

AirCare™ is billed as a low-cost fixed-benefit flight protection coverage available up to one hour before flight departure. The coverage includes lost luggage, missed connections, and tarmac delays.

The company will be unveiling additional travel insurance offerings over the next few months.

© 2014 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.