Tag Archives: Berkshire Hathaway Specialty Insurance

Berkshire Hathaway Specialty Insurance Offers Network Security & Privacy Liability Insurance in Canada

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Berkshire Hathaway Specialty Insurance has unveiled the Professional First Network Security & Privacy Liability Policy in Canada, a solution that combines cyber liability and breach response coverage with risk management resources for commercial enterprises and financial institutions.

“Our new policy simplifies the complex endeavor of managing cyber exposures for both our business partners and our customers,” said Michael Densham, SVP, Executive & Professional Lines, BHSI Canada. “We are excited to round out our Executive and Professional Lines offerings with this flexible cyber solution, backed by BHSI’s commitment to service and unparalleled financial strength.”

The Professional First Network Security & Privacy Liability Policy is designed to deliver multi-faceted coverage and crisis management services for large commercial enterprises and a wide range of financial institutions, including credit unions, banks, asset managers, and insurance companies.

Policy highlights include:

• Coverage for both first and third party exposures resulting from data security and privacy breaches, including regulatory investigations, fines and penalties.

• Breach expense and extortion threat coverage, addressing the direct expenses an Insured incurs to effectively respond to a breach or extortion threat.

• Media liability coverage, which responds to traditional media exposures (e.g. through a company’s website) arising from electronic content.

• Business interruption coverage to pay lost income and related expenses incurred as a result of the Insured’s partial or full business interruption due to a network security failure.

• Online access to eRiskHub® tools and resources to help policyholders understand cyber exposures, establish a breach response plan, and prepare to mitigate the impact of a breach on their organization. eRiskHub is provided via NetDiligence, a leading cyber security and e-risk assessment firm.

BHSI policyholders also have access to legal experts to help them manage their obligations following a breach, forensic IT services to identify and contain a breach, and public relations and credit monitoring firms to manage the reputational damage that can accompany an incident.

© 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 Expands Coverage for Large Contractors

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Berkshire Hathaway Specialty Insurance has unveiled the Excess Integrated Follow Form, a single excess policy that sits atop multiple first- and third-party insurance policies, for contractors in the U.S. and Canada.

“With multi-line excess coverage from BHSI, contractors gain consistency in limits and tower attachment points and can reduce gaps in coverage. They also benefit from streamlined claims services when they have a loss and reduced frictional claims expenses,” said Bill Sullivan, North American Head of Casualty Construction, BHSI.

The new BHSI policy provides excess follow form protection above multiple underlying coverages, including general liability, environmental liability, employer’s liability, and professional liability. The excess coverage comes with a single limit, backed by BHSI’s financial strength. The Excess Integrated Follow Form is designed for larger contractors with complex exposures.

© 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 Launches Motor Truck Cargo Legal Liability Insurance in Canada

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Berkshire Hathaway Specialty Insurance (BHSI) today announced that has expanded its inland marine product line in Canada with the launch of its Motor Truck Cargo Legal Liability Policy, a new product that protects against the legal liability exposure commercial truckers face when carrying third party goods.

“This product provides Canadian trucking companies with an insurance offering that responds to their needs in both Canada and the U.S. With the industry evolving, and more trucks crossing the Canada-U.S. border annually, we developed a solution that provides modern coverage and is responsive to both Canadian and American exposures,” said Gord Rider, Senior Underwriter, Marine, BHSI in Canada.

The policy is designed for mid-sized Canadian-based motor carriers specializing in transporting commodities primarily in Canada or cross-border with the U.S. Truckers and cargo are covered anywhere within Canada and the continental U.S.

Key policy highlights include:

• Legal liability coverage regarding property of others while in the ordinary course of transit or while at a terminal location for a specified period of time;

• Cross Docking coverage addressing an insured’s legal liability for direct physical loss or damage to property insured in its care, custody or control during cross docking operations at a scheduled terminal;
• Defence costs coverage that is outside of the policy limit;

• Employee theft coverage with respect to an insured’s legal liability for direct physical loss or damage to property insured resulting from theft by an insured’s employees; and

• Expediting expense coverage, such as reasonable additional labor or overtime costs, fuel costs and freight charges, necessary for timely delivery of the property insured when a vehicle cannot deliver the property due to physical loss or damage to the vehicle, including repair of the vehicle.

BHSI’s new Motor Truck Cargo Legal Liability Policy is the latest addition to its Marine & Inland Marine suite of products in Canada. The portfolio also includes Ocean Cargo, Builder’s Risk, and Contractor’s Equipment products.

© 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 Establishes Dublin Office

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Berkshire Hathaway Specialty Insurance Company (BHSI) has established a new office in Dublin, Ireland, and appointed Cormac McNamara as Property & Casualty Manager, BHSI Ireland.

“Cormac will build our local team and lead our efforts to bring all of BHSI’s Southern European underwriting capabilities to Ireland,” said Tom Bolt, President, UK and Southern Europe. “We are excited to further expand our geographic footprint in the region as we steadily grow our underwriting capabilities as well.”

Cormac comes to BHSI with 24 years of experience in the UK and Ireland insurance markets. Cormac spent the last six years at MS Amlin/Mitsui Sumitomo Insurance Group, where he held a variety of underwriting positions, most recently Ireland Underwriting & Distribution Manager. Before Mitsui Sumitomo, Cormac was Commercial Insurance Manager, UK Region and Ireland, at Chubb Insurance Company of Europe, and held several other underwriting positions at Chubb prior to beginning his career at QBE Europe.

© 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 Launches Public and Products Liability Insurance in the UK, Ireland and Southern Europe

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Berkshire Hathaway Specialty Insurance (BHSI) is introducing Public and Products Liability Insurance in the UK, Ireland and Southern Europe, and Employer’s Liability Insurance in the UK and Ireland.

The company also named Martin Leeks, Senior Vice President, Casualty, UK and Southern Europe.

“Under Martin’s leadership, we look forward to building out our casualty team in the region and bringing to market creative solutions with the financial strength and long-term underwriting focus of BHSI,” said Tom Bolt, President, BHSI, UK and Southern Europe. “Martin’s wealth of casualty underwriting expertise, coupled with our broad appetite and stable capacity, will translate to solutions that serve customers well for years to come.”

Along with local casualty coverage in the UK and Southern Europe, BHSI will provide multinational programs and underwrite certain targeted trades via Coverholders.

Martin comes to BHSI with 26 years of casualty underwriting experience, most recently at Mitsui Sumitomo at Lloyd’s. Before that, he was Senior Underwriter at Chartis (AIG) Cat Excess and held casualty underwriting roles at ACE Europe and Zurich. He began his career handling international claims.

© 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 Launches Professional First Professional Liability and Network Security & Privacy Policy in Canada

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It was just last year that Berkshire Hathaway Specialty Insurance (BHSI) marked its initial entry into Professional Lines in Canada with the launch of Professional First Miscellaneous Professional Liability Insurance, geared for large commercial entities, from consultants to property managers.

Now, BHSI has introduced its Professional First Professional Liability and Network Security & Privacy Policy and announced that it has appointed Geoffrey Kendrick as Head of Professional Lines in Canada.

“We are pleased to round out our Executive & Professional Lines products with comprehensive professional liability coverage for large, complex technology-related risks,” said Michael Densham, Head of Executive & Professional Lines, BHSI, Canada. “We are also excited to have Geoff leading our efforts in the Professional Lines marketplace. His extensive experience will serve BHSI and our customers well.”

BHSI’s new Professional First Professional Liability and Network Security & Privacy Policy is designed to address the needs of a wide range of enterprises, from systems integrators, to telecommunications providers, to IT staffing firms. The policy provides coverage for numerous exposures, encompassing: (i) third party exposures resulting from security and privacy breaches, including regulatory investigations, fines and penalties; (ii) a wide range of direct expenses an insured incurs in responding to a breach or extortion threat; (iii) media liability exposures; and (iv) lost income and related expenses resulting from interruption of the insured’s business due to a network security failure. The new form was purposefully drafted with clear, concise language, and builds in as standard many coverages traditionally available only by endorsement.

Geoffrey Kendrick joins BHSI after 11 years at Zurich Financial Services, Global Corporate. At Zurich, he held various underwriting roles of increasing responsibility focusing on professional indemnity and product safety & recall business in offices around the globe. Developing international insurance solutions for large, multinational risks, while addressing the complex and ever changing business, legal and compliance environment is his specialty. Geoffrey holds a Bachelor of Arts degree from The University of Western Ontario, King’s College.

He is based in BHSI’s office in Toronto.

© 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 Rolls Out Accident & Health Insurance and Services in Asia

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Berkshire Hathaway Specialty Insurance Company (BHSI) has introduced Group Personal Accident, Corporate Travel and Expatriate Medical Insurance in Singapore and Hong Kong.
The company also named Kok Leong Koo as Underwriting Manager, Accident & Health, based in Singapore, and Janus Law as Assistant Vice President, Accident & Health based in Hong Kong.

BHSI’s new Corporate Travel and Expatriate Medical Insurance products combine coverage with 24/7 access to BHSI’s Care and Concierge Services. These services include emergency medical, evacuation and repatriation assistance; medical referrals; assistance retrieving lost luggage; and worldwide Concierge support for events like last minute reservations to house sitting services. The company’s new Group Personal Accident Insurance also offers expansive coverage with the flexibility of numerous add-on benefits.

“We are pleased to launch our first Accident & Health solutions in Asia — backed by BHSI’s financial strength,” said Phillip Brain, Head of Accident & Health, BHSI in Asia. “The BHSI Care and Concierge Services embedded in our travel covers are indicative of the high level of service we plan to bring to this marketplace.”

These new A&H products are available in Singapore and Hong Kong and will launch in Macau in the coming weeks. In addition, BHSI continues to provide facultative reinsurance for Accident & Health exposures through its four offices in Asia, which are located in Singapore, Hong Kong, Macau and Malaysia.

Kok Leong comes to BHSI with more than a decade of experience in different underwriting and business development roles in the Singapore and Malaysia markets, which includes underwriting expertise in a Malaysian life operation. He holds a Bachelor of Science degree from the University of Malaya. Kok Leong is based in BHSI’s office in Singapore.

Janus has more than 10 years of experience in Accident & Health markets in Hong Kong and China, serving in various senior underwriting and management roles, including chief underwriting officer for Accident & Health products in Asia. Janus holds a Bachelor of Science degree from the University of Hong Kong and is a Fellow of the Life Management Institute. She is based in BHSI’s office in Hong Kong.

© 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 Opens London Office

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Berkshire Hathaway Specialty Insurance Company (BHSI), in coordination with its affiliate Berkshire Hathaway International Insurance Limited (BHIIL), has established a new office in London and filled key executive roles.

The company named Richard Nathan as Head of Property Lines; Patrick Brown as Head of Executive & Professional Liability; and Andrew Walker as Head of Claims, for BHSI in the UK and Southern Europe.

“We are pleased to expand our specialty insurance operations with a new London office and a growing team of professionals with excellent capabilities and character,” said Tom Bolt, President, UK and Southern Europe, BHSI. “Richard and Patrick will deliver bespoke specialty solutions backed by financial strength, while Andrew will ensure that excellent in-house claims expertise is available for customers from day one.”

The new office will serve brokers and customers in the UK and Southern European countries, including Ireland, Spain, France and Italy.

© 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 to Offer Reinsurance in Malaysia

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Berkshire Hathaway Specialty Insurance Company (BHSI) has received a license from Labuan FSA to provide non-life reinsurance to the Malaysian market.

The company also established a new office in Kuala Lumpur and named Gaithrie Nandrajog as Branch Manager and Koo Kang Wuu as Executive & Professional Lines and Business Development Manager in Malaysia.

After putting down roots in Singapore, Hong Kong, and Macau, we are pleased to further expand our operations in Asia and bring facultative reinsurance capacity and new products with the backing of our strong balance sheet to selected Malaysian insurance partners,” said Marc Breuil, President, Asia, BHSI. “With the opening of our Malaysian office, we continue to deepen our underwriting and claims capabilities in the region.”

Gaithrie, who will oversee BHSI’s new Malaysian reinsurance operation, holds a bachelor’s degree in law from the University of West England, Bristol. Koo holds an MBA from RMIT University plus a B. A. (Hons) from the University of Hertfordshire (UK). Both come to BHSI with more than a decade of experience in the Malaysian insurance industry.

© 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 to Sell Marine Insurance in Canada

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Berkshire Hathaway Specialty Insurance (BHSI) is introducing Inland and Ocean Marine Insurance in Canada and has named Gord Rider as Senior Marine Underwriter.

“We are pleased to welcome Gord to our team of marine specialists,” said John Evans, Vice President of Marine, BHSI. “With Gord at the helm, BHSI in Canada has launched ocean marine products — including ocean cargo, stock throughput and project cargo insurance — as well as a full line of inland marine products. All of these products come with BHSI’s hallmark clarity of coverage and formidable financial strength.”

Gord joins BHSI from Chubb Insurance Company of Canada, where he was most recently Senior Marine Underwriter. Before that, he was a Marine Underwriter at Chubb and at Coast Underwriters Ltd. He received a Bachelor of Commerce degree from Dalhousie University in Halifax.

© 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.