Berkshire Hathaway Specialty Insurance Adds Inland Marine Insurance Products to U.S. Offerings

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has launched a full line of Inland Marine Insurance products in the U.S., including Builder’s Risks, Contractor’s Equipment, Installation Floaters, Inland Transit, Motor Truck Cargo, Warehouse Legal Liability and miscellaneous floaters.

Originally an outgrowth of marine insurance, inland marine insurance covers property that is mobile in nature or requires unique valuation that they own or have in their care. Among the types of property that are covered are those related to construction, transportation, fine art and communications.

“Our new Inland Marine products are designed to be a strong complement to our ocean cargo and contractor’s builder’s risk coverages,” said John Evans, Vice President, Marine, BHSI. “With our comprehensive suite of products and in-house expertise, we are well positioned for the opportunities of the marine space and look forward to providing market-leading service and solutions to our customers and distribution partners.”

BHSI’s Inland Marine coverages are available on an admitted basis in all 50 states and underwritten using American Association of Insurance Services (AAIS) policy wordings.

© 2015 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.