Category Archives: Insurance

Berkshire Hathaway Specialty Insurance Offers Commercial Crime Insurance in Asia

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Berkshire Hathaway Specialty Insurance is offering Commercial Crime Insurance in Asia. The new policy is designed to help companies address the exposures of a changing fraud landscape.

“Corporate fraud is becoming increasingly sophisticated as technology advances at an exponential pace across the globe. Companies now face new threats and are tasked with protecting both traditional and digital assets,” said Scotland Walsh-Riddle, Head of Executive & Professional Lines, BHSI Asia. “Our policy is important protection for a company’s balance sheet by both insuring against losses arising from a wide range of threats and providing support to investigate the cause of a loss.”

BHSI’s Commercial Crime Insurance Policy offers concise contract language for commercial organizations and includes coverage for both traditional employee crime and external crimes, including funds transfer fraud, credit card fraud, forgery, and impersonation coverage. Impersonation coverage responds to losses arising when a perpetrator impersonates an employee, executive or business associate of the insured for the purpose of defrauding the insured.

“Impersonation fraud is quickly becoming a systemic issue around the world. We’ve recently seen a social engineering scheme utilize artificial intelligence-based software to impersonate an executive. These schemes are testing the boundaries of what companies can prepare for – and we are committed to helping our customers protect against this rising threat,” said Scotland.

The Commercial Crime Insurance Policy also includes numerous extensions, including coverage for lost establishment fees an insured incurs to establish the existence and quantum of a loss.

“The Commercial Crime Policy was crafted with BHSI’s clear and concise underwriting and is backed by our excellent claims handling,” said Scotland. “Through BHSI’s unparalleled financial strength and experience, our customers and brokers can have the confidence BHSI will be there when it matters most.”

© 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 Names Javier Villalba as Head of Claims in Spain

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Berkshire Hathaway Specialty Insurance has appointed Javier Villalba to its expanding leadership team in Spain as Head of Claims.

“We are thrilled to have Javier, with his extensive industry experience, bringing BHSI’s commitment to claims excellence to customers in Spain and throughout Europe. Claims is our product — and Javier is exceptionally equipped to bring this product to the marketplace, the BHSI way,” said Ignacio Almazan, Country Manager, Spain, BHSI.

Javier comes to BHSI with nearly 20 years of claims experience. He was most recently Director for Expert Claims (Spain) and Claims Customer Relationship Manager at Zurich in Spain. Prior to that he spent 16 years in Claims at AIG, beginning as a claims adjuster and rising to the position of AIG South Europe Claims & Operations Officer. He earned a law degree from Universidad Complutense de Madrid and completed his studies in Procedural Law at C.E. Ignacio de Loyola.

Javier is based in BHSI’s office in Madrid.

© 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 in France

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Berkshire Hathaway Specialty Insurance has commenced underwriting casualty and construction insurance in France and filled two key in-country leadership posts, naming Olivier Antiphon as Head of Construction and Anne-Sophie Bonifay as Head of Casualty.

“We are pleased to continue to round out our capabilities in France as we welcome Olivier and Anne-Sophie to lead our entry into the local construction and casualty markets,” said François-Xavier d’Huart, Country Manager, France, BHSI. “Their expertise, coupled with BHSI’s financial strength and commitment to claims handling excellence, will serve our customers and brokers well for years to come.”

Olivier comes to his role with three decades of experience in construction underwriting and engineering. For the past 12 years he was Construction & Engineering Underwriting Manager at XL Insurance Company SE in Paris. Prior to that, he was Engineering Underwriting Manager at Gerling in Paris. He began his career as Head of the Firefighting Engineering Team at Alstom Power. He has a degree in Health & Security from the Institut Universitaire de Technologie in Saint-Denis.

Anne-Sophie joins BHSI with 25 years of experience spanning both middle market and large account casualty underwriting. She began her career in casualty underwriting at AGF (Allianz), and then Commercial Union, in Paris. She then held increasingly senior positions in casualty underwriting at Chubb Insurance Company of Europe, and was Casualty Underwriting Manager, Large Corporate Accounts, at Zurich Global Corporate France. She served as Casualty Underwriting Manager, Middle Market, at XL Insurance Company Limited, and most recently was Casualty Underwriting Manager, Middle Market, at AXA XL in Paris. She holds a master’s degree in Insurance Law from the University of Paris Panthéon Assas.

Olivier and Anne-Sophie are based in BHSI’s office in Paris.

© 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 Enters the Surety Market in Australia

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Berkshire Hathaway Specialty Insurance is entering the surety market in Australia and has named Jonathan Griffiths as Head of Surety, Australia.

“We are pleased to expand our surety footprint and our team into Australia. With his extensive experience, Jonathan is exceptionally qualified to bring to market surety solutions with BHSI’s agility, underwriting expertise and financial strength,” said Mark Lingafelter, President, Australasia, BHSI.

BHSI will focus on providing contract surety solutions for large and mid-sized contractors throughout Australia. The company currently provides surety solutions in the U.S, Canada, UK & Europe and Asia.

Jonathan comes to BHSI with more than a decade of surety underwriting experience at Liberty Specialty Markets, where he was most recently Head of Surety, Asia-Pacific, based in Sydney. Before that he held increasingly senior roles underwriting surety for Liberty in Australia as well as North America, the UK and Europe.

He holds a bachelor’s degree in Business Economics from London Metropolitan University in the UK and an Associate in Fidelity and Surety Bonding certification. He has served as Vice President of the Australian Surety Association since 2015.

© 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.

MedPro Group Acquires Renewal Rights for Swiss Re Corporate Solutions Healthcare Professional Liability Business

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Berkshire Hathaway’s MedPro Group has entered into a definitive agreement with Swiss Re Corporate Solutions to acquire the renewal rights to SRCS’s Healthcare Professional Liability book of business effective October 11, 2019.

The agreement includes Hospital and Senior Care accounts underwritten by SRCS from the US, as well as US Hospital and International Healthcare Professional Liability accounts underwritten by SRCS from London and other offices around the world.

“This transaction is further evidence of our unwavering dedication to the challenging healthcare liability market in the US and, increasingly, around the world,” said Jean-Paul Rebillard, President, MedPro Specialty. “We are excited by this opportunity because Swiss Re Corporate Solutions’ healthcare professional liability clients and approach to underwriting and service complement our industry-leading Specialty business that provides solutions to healthcare organizations of all types.”

Current SRCS policyholders will be eligible to receive renewal offers from MedPro and its affiliates upon the expiration of their policies. To help ensure seamless service, several key members of the SRCS healthcare team are joining MedPro.

MedPro CEO Tim Kenesey added that “more healthcare providers choose MedPro over any other insurer because of our century-long commitment to delivering unsurpassed peace of mind, expertise and choice to healthcare providers and organizations. And, as Berkshire Hathaway’s chairman Warren Buffett has said, ‘MedPro is also now a favored solution for owners of healthcare liability insurers who seek the world’s most stable home for their policyholders in an increasingly unstable healthcare liability landscape.’”

With over $1.6 billion in premium, MedPro Group is the leader in customized insurance, claims and patient safety & risk solutions for more than 250,000 physicians, surgeons, dentists and other healthcare professionals, as well as hospitals, senior care and other healthcare facilities.

© 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 Enters Spain

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Berkshire Hathaway Specialty Insurance has expanded its global footprint opening a new office in Madrid, naming Ignacio Almazan as Country Manager in Spain.

“Putting down roots in Spain enhances our ability to service both local customers and multinationals in Europe,” said Chris Colahan, President, BHSI, UK and Europe. “Ignacio has extensive experience in the Spanish marketplace and we are excited to have him leading our effort to build our local presence and relationships.”

BHSI will initially underwrite property, casualty, financial lines, construction and engineering insurance, with the expectation to steadily expand its product lines and services in Spain.

Ignacio comes to BHSI with more than 20 years of insurance industry experience. For the past decade, he served as Country Manager for RSA Spain. Prior to that, he was Sub-director of the Energy Department at Willis Spain, and Leader of the Energy Department at Aon Spain. He began his insurance industry career as a Risk Engineer, then a C&E Underwriter, at Royal & Sun Alliance Spain.

© 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 Staff in France

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Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has expanded its leadership team in France, naming Katell Pouliquen as Head of Claims, Louis du Ché as Head of Property and Ludovic Ruiller as Head of Environmental.

“We are pleased to begin expanding our team in Paris with three individuals who are exceptionally well equipped to bring to market the strong value that resides in BHSI’s underwriting expertise, claims excellence, and financial strength,” said François-Xavier d’Huart, Country Manager for France, BHSI. “We look forward to continuing to round out our team and our capabilities in France and throughout Europe.”

Katell Pouliquen has been honing her claims expertise for more than 15 years. She spent the majority of her career moving through increasingly senior claims positions at AIG Europe in Paris, where she was most recently Deputy Head of Claims. She holds one master’s degree in Insurance Law from the University of Paris Créteil, and another in Law and Social Sciences from University La Sorbonne.

Louis du Ché comes to his role as Head of Property with more than a decade of insurance industry experience. He was most recently Global Property Manager, Benelux, at AIG Europe Limited. Prior to that, he held increasingly senior roles in property insurance at other major insurers in France. He earned a master’s degree and European Bachelor of Science in Business degree from the Ecole Supérieure d’Assurances (ESA).

Ludovic Ruiller brings to BHSI nearly 20 years of experience in the environmental field, spanning both technical consulting and underwriting. He was most recently Environmental Risks Line Manager, France & Benelux, at Axa XL. Before that, he spent 12 years specializing in environmental risk underwriting at AIG Europe and ASSURPOL in France. He holds a master’s degree in Environmental Engineering from Ecole des Métiers de l’Environnement in Rennes, and a bachelor’s degree in Biology & Ecosystems from the University of Rennes I.

BHSI’s initial focus in France is on large and upper middle market customers. The company will continue to expand product offerings in France, with construction, casualty and executive & professional lines capabilities expected to launch soon.

© 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 GUARD Insurance Offers Commercial Package Coverage in New Jersey

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Berkshire Hathaway GUARD Insurance Companies recently added their Commercial Package product in New Jersey. This offering includes: Commercial Property with limits up to $120 million per location with an enhanced causes of loss form which includes built-in equipment breakdown and inland marine coverages as well as crime coverage; General Liability with base limits of $1 million to $6 million with even higher limits considered; Employment-Related Practices Liability Insurance (EPLI); and Commercial Umbrella for added protection. According to CEO Sy Foguel, “Our goal is to become a ‘One Stop Shop’ for our agents and their insureds. We continue to expand our portfolio to supply our network of independent agents with quality products that enable them to grow. New Jersey is our second state for Commercial Package after initially rolling it out in Pennsylvania, and more states are soon to follow.”

Executive Vice President Lyle Hitt explains that “GUARD’s coverages are unique, including our built-in inland marine protection for Commercial Property that sets us apart from our competitors in the market. We further enhance our base coverages with a wide range of add-ons and industry-specific endorsements. We take a customized approach to expanding the limits and scope of traditional property and casualty insurance.”

According to Vice President of Commercial Package Ellen Hauser, “Our Package product is designed to address the insurance needs of larger, more complex operations or businesses with multiple exposures.” Hauser also notes that “our initial target markets include light-to-medium manufacturing, wholesalers and distributors, truck stops/travel plazas, resort hotels, and country clubs/golf courses with plans to expand into additional markets.”

GUARD’s Assistant Vice President of Marketing Elizabeth Hartman says, “Our product is competitively priced with discounts available when two or more lines are purchased as well as additional discounts based on unique business characteristics. Agents should make sure to combine their CPP quote with a submission for other applicable commercial lines – like Workers’ Comp and Commercial Auto.”

Berkshire Hathaway GUARD Insurance Companies is a property and casualty insurance specialist writing policies nationwide for over a quarter million policyholders. Headed by CEO and President Sy Foguel, the Berkshire Hathaway GUARD Insurance Companies maintain a total of eight offices throughout the country.

© 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’s Wellfleet Insurance Co. Takes Over NGL’s Student & Special Risk Business

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Berkshire Hathaway’s insurance company Wellfleet has agreed to terms with National Guardian Life Insurance Company (NGL) to acquire through renewals its Student and Special Risk business.

Much of that business is processed through Commercial Travelers Life Insurance Company in Utica, New York, a wholly owned NGL subsidiary.

Wellfleet will immediately assume responsibility for administrating NGL’s special risk policies and collegiate accident and health insurance, which insures over 26,000 students on approximately 100 campuses across the United States. Wellfleet will maintain NGL’s Utica, NY office, employing more than 30 insurance professionals.

“We are pleased that we have entered into this agreement with Wellfleet, one of the nation’s leading providers of health and accident insurance products to the higher education market. This transition provides our customers the ability to renew their business with a highly respected insurer who will deliver quality service. This transaction allows NGL to focus on our other lines of business,” said Knut A. Olson, NGL’s President & CEO.

“Wellfleet’s specialization in Student and Special Risk coverage for more than 25 years, and respected reputation in the market, gives NGL’s talented employees, loyal clients, and growing member base the best possible solution for operational continuity,” Olson said.

Wellfleet President & CEO, Andrew DiGiorgio, noted Wellfleet’s longtime business relationship with NGL and Commercial Travelers, and reiterated Wellfleet’s commitment to a smooth transition for NGL’s clients and members.

“Our priorities are to honor the commitments NGL extended to its customers, and to deliver quality service and customer-centric solutions to clients, members and distribution partners,” said DiGiorgio.

Completion of the transaction is subject to various conditions, including the receipt of required regulatory approval, and is expected to close in the third quarter of 2019.

© 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.

GEICO Marks 1st Year in New Iowa Location With Plans to Hire 80 New Associates

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GEICO’s North Liberty, Iowa, office is marking the one-year anniversary of its new headquarters by extending job offers to 80 new associates by the end of 2019.

Applications are now being accepted for Customer Service Representatives, with a starting salary of $16.50/hour, and Inbound Sales Representatives, with a $16.87 starting salary. No prior insurance experience is necessary; training is provided. Apply at geico.jobs/iowa.

GEICO opened its Iowa office in 1997, when the insurer had about 2.8 million policyholders. Today, GEICO has more than 17 million policyholders. The success of the Iowa office has contributed substantially to the company’s growth. In fact, an Iowa sales associate sold GEICO’s 17-millionth policy earlier this year. The Iowa office, which currently has about 500 associates, relocated to a new 50,000-square-foot building last September.

GEICO’s Iowa office has been named a Top Workplace for the last five years by the Des Moines Register and is one of Indeed.com’s Top 10 highest-rated workplaces for compensation and benefits.

Full-time GEICO associates are offered the Total Rewards Program with a wide range of benefits, including a comprehensive benefits package, continuing education, tuition reimbursement, on-site college courses, career growth, community engagement opportunities, as well as a friendly and supportive workplace.

© 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.