Category Archives: Berkshire Hathaway Specialty Insurance

Berkshire Hathaway Specialty Insurance Expands into Transactional Liability Insurance in UK & Europe

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Berkshire Hathaway Specialty Insurance (BHSI) is expanding its North American Transactional Liability Insurance business into the UK and Europe and has appointed Ed Martin as Head of Transactional Liability, UK and Europe.

“As the need for solutions for the risks and uncertainties in corporate transactions continues to grow, BHSI is pleased to bring to market the local expertise, financial strength, and capacity that will enable companies in the UK and throughout Europe to respond, quickly and strategically, to the exposures of mergers, acquisitions and other transactions,” said Robert Underhill, Senior Vice President, Head of Transactional Liability, BHSI. “Ed is a stellar addition to our expanding Transactional Liability team worldwide.”

“Our capabilities in the UK, throughout Europe and around the world continue to expand to help our customers respond to pressing risks,” said Chris Colahan, Head of UK and Europe, BHSI. “This latest expansion follows the well set pattern of BHSI’s growth: We grow where and when we can offer outstanding expertise and provide meaningful long-term solutions, backed by our stable capacity and financial strength.”

BHSI will provide Warranty and Indemnity, Tax, and Contingent Liability Insurance in the UK and throughout Europe. The company also provides Representations & Warranties, Contingent Liability, and Class Action Settlement Insurance in the U.S. and Canada.

Martin joins BHSI from global legacy and run-off specialist Enstar Group Limited. At Enstar, Ed was the lead in-house M&A lawyer working alongside Enstar’s dedicated M&A team. Prior to joining Enstar, Ed was Of Counsel at Norton Rose (now Norton Rose Fulbright) with their London Corporate and Regulatory Insurance team. Ed qualified as a lawyer in England and Wales in 2000.

Martin will be based in BHSI’s office in London.

© 2019 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.

Berkshire Hathaway Specialty Insurance Adds Property Construction in UK & Ireland

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Berkshire Hathaway Specialty Insurance (BHSI) announced today that it is expanding into the Property Construction insurance market in the UK and Ireland and has appointed Simeon Seamer to lead the effort as Head of Property Construction, UK and Ireland.

“With the current uncertainty surrounding available capacity for the construction industry in London, BHSI is pleased to provide a stable, reliable solution. We enter the property construction market with substantial capacity backed by stellar financial strength, BHSI’s long-view market commitment, and the expertise of Simeon to lead our growing team,” said Chris Colahan, Head of UK and Europe, BHSI.

In addition to property construction, BHSI in the UK and Ireland now offers a wide range of insurance products for the construction industry including CAR, liability and professional indemnity coverages.

Simeon comes to BHSI after nearly two decades in the construction insurance and reinsurance industry, having led underwriting for some of the largest infrastructure projects in the U.S. and Europe. He was most recently EMEA Head of Construction & Senior Underwriter at SCOR Global P&C. Prior to that he was Senior Construction Underwriter at Zurich Global Corporate UK. He began his insurance career as a London Market broker specializing in construction.

BHSI’s construction team for the UK and Ireland also includes James Emson, VP of Casualty, who joins BHSI from QBE in Hong Kong, and Farhad Dabestani, Senior Underwriter, Professional Indemnity, who comes to BHSI from AXA XL.

© 2019 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.

Berkshire Hathaway Specialty Insurance Expands Team in Europe

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Berkshire Hathaway Specialty Insurance (BHSI) has expanded its team in Europe with the appointment of Alfred Barth as Senior Claims Adjuster in Germany.

“Alfred brings extensive experience of managing claims operations, leading coinsurance markets on claims across the world and handling both high volume and high complexity losses. Most importantly, he shares our commitment to providing customers with an excellent claims product,” said Andrew Walker, Head of Claims, BHSI Europe. “We are pleased to have him at the helm bringing our claims service to customers in Germany and throughout Europe.”

Alfred comes to BHSI after nearly four decades at C. Gielisch GmbH in Düsseldorf, where he was most recently Senior Loss Adjuster, Division Manager and an Executive Board Member. He began his career at C. Gielisch in Cologne as a Surveyor and Loss Adjuster. He holds a Diploma in Business Administration from Cologne University of Applied Sciences and is an affiliated member of the Australasian Institute of Chartered Loss Adjusters (AICLA).

BHSI offices in Munich and Düsseldorf underwrite property, casualty, medical malpractice, marine and executive & professional lines for a broad range of business segments in Germany.

Alfred will be based in the BHSI office in Düsseldorf.

© 2019 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.

Berkshire Hathaway Pulls Out of Hong Kong Government Employees’ Compensation Terrorism Pool

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Berkshire Hathaway Specialty Insurance Company has withdrawn from the Hong Kong Employees’ Compensation terrorism pool effective December 1, 2018, and will provide coverage on its own.

This decision benefits all BHSI’s new and existing EC customers for policies incepting or renewing on or after December 1, 2018.

BHSI is now the first insurer in Hong Kong to provide EC terrorism coverage to customers directly, backed by Berkshire Hathaway Specialty Insurance Company’s financial strength.

The EC terrorism pool was established to provide terrorism cover for Hong Kong EC policyholders after the September 11th terror events when capacity had receded in the international markets. Whilst participation is voluntary, the pool provides a maximum limit of HK $10 billion which until now was shared among all EC policyholders for all terrorism claims on a “first come, first served” basis.

Insurers participating in the pool must charge their EC policyholders a 3% levy on policy premiums which is then remitted to the Hong Kong SAR Government. According to the terms of the pool, those participating insurers are not obligated to pay EC terrorism claims to their customers until the pool first pays the insurer for the claims.

Effective December 1, the EC terrorism coverage provided by BHSI is no longer subject to any of the pool’s restrictions. BHSI’s customers are no longer subject to the 3% levy on their EC policy premiums; BHSI policyholders no longer need to share a limit with all the other EC policyholders in Hong Kong; and payments for terrorism claims are no longer contingent upon payment or reimbursement from the pool.

“The feedback from the customers and brokers we have discussed our approach with has been incredibly encouraging,” said Marc Breuil, CEO of BHSI Hong Kong. “BHSI’s Employees’ Compensation policies are now exclusively backed by its own financial strength – which carries the same S&P rating as the Hong Kong SAR Government – and provide EC terrorism coverage to policyholders without the obligation to pay the levy. We are excited to offer this market-changing coverage development to our current and future EC customers, said Mr. Breuil.”

© 2018 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.

Berkshire Hathaway Specialty Insurance Expands Team in Dubai

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Berkshire Hathaway Specialty Insurance Company (BHSI) has expanded its leadership team in Dubai with the appointment of executives to fill key product line and service posts.

“Building a strong foundation of servicing capabilities and local knowledge and expertise is critical to BHSI’s long term plans in the Middle East,” said Marc Breuil, President, BHSI, Asia Middle East. “Since DIFC BHSI commenced operations in February, we have established a strong and dynamic team to bring DIFC BHSI’s unmatched financial strength and capital to the Middle East.”

“Our new teammates in Dubai embody the excellent capabilities and strong character that is so valued by BHSI and by our customers,” said Alessandro Cerase, Senior Executive Officer, BHSI Middle East. “They will lead our efforts to bring BHSI’s long-term focus, multi-line underwriting and service excellence to customers throughout the Middle East. We are pleased to welcome them aboard.”

The BHSI appointees include:

• Aisling Malone, Head of Executive & Professional Lines. Aisling was previously Head of Professional Liability Cyber MENA and Senior Underwriter at AIG MEA Limited. Aisling is joined by Joe Saab, Senior Underwriter.
• Emir Erdur, Head of Casualty. He was previously Casualty Leader and Regional Underwriter of Casualty for the MEA region at QBE Insurance (Europe) Limited. Emir is joined by Mohammed Hannoun, Senior Underwriting Manager.
• Carlos Beltran, Head of Commercial Property. Carlos was previously Regional Vice President, P&C Underwriting at Chubb Latin America.
• Meenakshi Srinath, Head of Marine. Prior to BHSI, Meenakshi was Head of Marine (Gulf and KSA) at AXA Insurance Gulf.
• Kapil Palathinkal is Head of Energy and Construction. Kapil was most recently the Energy & Engineered Risk Manager for the Arabian Hub at AIG. Kapil is joined by Anuradha Sekar, Senior Underwriter.
• Pruthviraj More, Senior Risk Engineer. Pruthviraj joins BHSI from Allianz Global Corporate Specialty where he was a Property Loss Control Engineer.
• John Lewis, Head of Claims. John was previously Head of Claims at Zurich Insurance DIFC Dubai.

Earlier this year BHSI announced the appointment of Alessandro Cerase as Senior Executive Officer (SEO) and Neeraj Yadvendu as deputy SEO and Head of Third Party Lines for the Middle East, both based on Dubai. Alessandro also leads First Party Lines for BHSI’s broader Asia Middle East region, which includes BHSI’s other regional hubs of Hong Kong and Singapore as well as BHSI operations in Malaysia and Macau.

© 2018 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.

Berkshire Hathaway Specialty Insurance Expands Insurance Offerings in Asia

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Berkshire Hathaway Specialty Insurance Company (BHSI) today introduced Executive First Private Company Portfolio and Executive First Nonprofit Organisation Portfolio policies in Asia.

“Our Private Company and Nonprofit Organisation Portfolio forms provide far-reaching, contemporary coverage backed by BHSI’s financial strength,” said Nero Shiu, Senior Manager, Executive & Professional Lines, BHSI in Hong Kong. “Both policies reflect our commitment to providing the simple, concise solutions customers need for multifaceted management liability risks in today’s world.”

The Private Company Portfolio extends coverage to both individuals and the entity and includes Directors & Officers Liability, Employment Practices Liability, and Employee Dishonesty coverages.

The Nonprofit Organisation Portfolio offers similar coverages, with the addition of Professional Indemnity protection to address the specific needs of a nonprofit organisation. Key features include pre-investigations cost coverage, court attendance coverage, and advancement of defence costs. Professional Indemnity protection includes coverage for corrective actions to help nonprofit organisations mitigate potential losses and avoid claims.

“Our new policies address the full range of claims private companies, nonprofit organisations, and their directors and officers may encounter today — from lawsuits arising from breach of compliance and disclosure requirements, to employee theft, to claims sparked by the acts of employees,” said Edwin Sim, Assistant Vice President, Executive & Professional Lines, BHSI in Singapore.

© 2018 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.

Berkshire Hathaway Specialty Insurance Expands Australia Operations

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Berkshire Hathaway Specialty Insurance (BHSI) is expanding its presence in Australia, opening a new office in Perth, Western Australia.

BHSI named Anthony Prindiville to lead its Casualty underwriting and Mark Shepard to lead the Property underwriting there.

“Expanding our footprint into Western Australia will enhance our ability to build lasting relationships with brokers and customers throughout the country,” said Chris Colahan, President, Australasia. “We are pleased to have Anthony and Mark at the helm as we build our local team in Perth. We look forward to developing a full suite of insurance products, risk management and claims services in this region.”

Like the BHSI offices in Sydney, Melbourne and Brisbane, BHSI’s Perth office will underwrite casualty, property, mining, energy, construction, power, marine, transport and logistics, healthcare liability, accident and health, and executive and professional lines for a broad range of business segments.

Anthony comes to BHSI with over 30 years of insurance industry experience, most recently as Global Distribution Manager at Chubb Insurance Australia Limited. He holds a Senior Associate designation from ANZIIF. Anthony joins Mark Shepard, Manager – Property, who commenced in BHSI’s Perth office in January.

Mark has been in the industry for over 16 years, most recently as Underwriting Manager – Property, Technical Lines and Energy at Chubb Insurance Australia Limited.

© 2018 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.

Berkshire Hathaway Specialty Insurance Opens Office in Dubai

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Berkshire Hathaway Specialty Insurance Company has received its insurance license from the Dubai Financial Services Authority and established an office in the Dubai International Financial Centre (DIFC), while naming Alessandro Cerase as its Senior Executive Officer (SEO) and Neeraj Yadvendu as deputy SEO and Head of Third Party Lines for the Middle East.

In addition, Alessandro will be leading First Party Lines for BHSI’s broader Asia Middle East region, which includes BHSI’s other regional hubs of Hong Kong and Singapore as well as its operations in Malaysia and Macau.

“We are excited to expand BHSI’s footprint in this region which will service those markets in the Middle East and beyond who seek (re)insurance support in the DIFC. The strategic location of Dubai as well as the stability and efficiency of the DIFC make it an ideal hub for BHSI to support economic growth in the region. Our operation in the DIFC will bring BHSI’s financial strength, and underwriting and claims excellence to the region.” said Marc Breuil, President of Asia Middle East, BHSI. “We are excited to be able to serve customers and brokers in the region under the experienced leadership of Alessandro and Neeraj.”

BHSI will provide a suite of specialty and commercial (re)insurance products to its network of brokers and ceding companies with a focus on construction, energy, property, marine, casualty and executive and professional lines.

Alessandro comes to BHSI with 20 years of global experience spanning both the engineering and underwriting sides of the insurance business. He was most recently Global Head of Energy and Engineered Risk at AIG. He holds a master’s degree in Chemical Engineering from Universita’ degli Studi di Roma.

Neeraj joins BHSI after two decades in the insurance industry, most recently as Regional Head of Casualty and Financial Lines at AXA Asia. He received his master’s degree in Business Administration from India’s University of Pune, and his bachelor’s degree from City College, Calcutta University.

2018 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.

Berkshire Hathaway Specialty Insurance Names Former Chubb Employee to Head New Accident & Health Insurance in New Zealand

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Berkshire Hathaway Specialty Insurance Company (BHSI) has appointed Jared McGrath to head its new line of Accident & Health products in New Zealand. The product line includes Corporate Travel, Group Personal Accident, and Expatriate Medical Insurance.

“Jared comes to BHSI with extensive experience in the New Zealand A&H marketplace,” said Cameron McLisky, Country Manager, New Zealand, BHSI. “We are pleased to have him aboard, forging strong partnerships with employers and brokers with A&H solutions that enhance worker wellness and benefits, while lowering employer costs.”

Jared comes to BHSI with nearly 15 years of industry experience. He was most recently New Zealand Corporate Manager, Accident & Health, Chubb Insurance. Before that, he was A&H Corporate Account Manager at the combined ACE/Chubb organization and A&H Account Manager at Ace Insurance.

According to BHSI, its A&H products are distinguished by enhancements that provide meaningful and practical support to employees when they are in need. For example, BHSI’s Corporate Travel Insurance extends emergency assistance and concierge support to employees who face emergencies while traveling or that impact their home or family when they are away. Technology is also integral to BHSI’s A&H strategy. Online claim reporting is available for all products, with SMS notifications keeping claimants up to date throughout the claims process.

© 2017 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.

Berkshire Hathaway Specialty Insurance Company Offers Professional First Financial Institution Professional Indemnity Insurance in Asia

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Berkshire Hathaway Specialty Insurance Company (BHSI) has introduced Professional First Financial Institution Professional Indemnity (FIPI) Insurance in Asia.

“Financial institutions are seeing an increase in both the frequency and severity of professional indemnity claims.” said Scotland Walsh-Riddle, Head of Executive & Professional Lines at BHSI Hong Kong. “To respond to their needs, we’re introducing comprehensive and customizable protection to address the exposures FI professionals face now.”

The new BHSI policy is designed to cover a range of claims, from allegations of failure to disclose information, to misleading financial advice and breach of contracts. It combines coverage for civil liability, pre-investigations, mitigation expenses, bail bond costs, court attendance, loss of documents, and more.

“Financial institutions deliver diverse services to their customers,” said Edwin Sim, Assistant Vice President of Executive & Professional Lines at BHSI Singapore. “Hence, we have set out to provide them with the peace of mind that comes with broad FIPI coverage. Through clearly articulated wording, BHSI Asia’s FIPI insurance policy will provide our customers with the security of coverage backed by unmatched financial strength.”

The policy is designed for medium to large financial institutions, including securities dealers, regional banks, insurance companies, reinsurance companies, diversified institutions, and financial technology (FinTech) and corporate advisory firms.

© 2017 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.