Category: Berkshire Hathaway Specialty Insurance

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance’s Berxi is partnering with GreenLight Workforce Solutions to provide independent professionals with access to Berxi’s liability insurance products through GreenLight’s next generation workforce compliance software solution.

Berxi provides skilled independent professionals with fast and affordable liability insurance, which encompasses both errors & omissions (professional liability) and general liability coverage. Berxi’s offering includes a range of limit options and industry-specific features. Quotes are facilitated online in minutes via Berxi’s technology-driven platform.

“As part of our commitment to supporting independent professionals, as well as the enterprises who are contracting with those professionals, we are pleased to partner with Berxi, part of Berkshire Hathaway Specialty Insurance, to provide access to top-quality liability insurance from a trusted industry player – one who also provides direct-to-customer speed and a modern technology-driven experience that is customer-centric,” said Jason Posel, Founder & CEO of GreenLight.

“We look forward to working with GreenLight to make it simple and frictionless for the independent professionals who use their software to secure the appropriate insurance coverage they need to be successful and thrive,” said Adam Yasan, Managing Director of Berxi.

The collaboration is already in effect.

© 2020 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.

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has introduced Environmental Impairment Liability (EIL) Insurance in France.

The new policy pairs coverage for multiple environmental risks with technical and legal support to help insureds mitigate environmental incidents and claims.

“Our experienced environmental team has created a policy that provides expansive coverage in clear, simple policy language, backed by BHSI’s financial strength and excellent service,” said François-Xavier d’Huart, Country Manager, France, at BHSI. “We are pleased to continue to round out our product offerings in France and fill an important market need.”

The policy provides coverage for an insured’s operating sites as well as off-site services, such as transport operations. Coverage includes third-party claims arising from accidental and gradual environmental damage, environmental liability, and cleanup costs for the insured site. Costs to mitigate an incident, including emergency response expenses are also covered.

BHSI can provide EIL coverage for operations of all sizes on a primary or excess basis.

© 2020 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.

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance is now providing Defense Base Act (DBA) insurance on a global basis through its DBA-dedicated underwriting and claims team in Dubai.

“We are pleased to bring this mandatory coverage to contractors and companies operating throughout the Middle East and around the globe,” said Neeraj Yadvendu, Head of Third-Party Lines, BHSI Middle East. “Our coverage is supported by BHSI’s experienced Dubai-based DBA specialists who have well-established relationships with key vendors in volatile regions, ensuring exceptional services to customers when and where coverage is most needed.”

DBA insurance provides disability, medical and death benefits to covered employees, whether the injury or death occurs on or off the job in the course of employment. Further to its standard offering, BHSI can provide additional coverage in other key areas, such as Emergency Medical Evacuation and Supplementary Repatriation Expenses, tailoring its approach to meet customer needs.

U.S. federal law mandates DBA insurance for U.S.-government contractors, private employers and contractors working outside the U.S. on American military bases or under a contract with the U.S. government for public works or for national defense. These works include providing defense equipment, life support, materials or services to U.S. allies; or providing welfare services to benefit U.S. Armed Services.

© 2020 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a 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.

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance has expanded its Global Property Underwriting Officer team to include Alessandro Cerase, who will focus on General Property, Energy and Construction. Alessandro will also retain his role as Senior Executive Officer (SEO) for BHSI’s Middle East region.

“With our property portfolio growing worldwide, it is the perfect time to expand our global property leadership team, led by Dean LaPierre, and to expand Alessandro’s invaluable contributions to BHSI globally,” said David Fields, Global Chief Underwriting Officer, BHSI. “This move is indicative of the strength and depth of BHSI’s team, not only in property but across all our lines of business — and of the excellent advancement opportunities available for BHSI teammates around the globe.”

Alessandro joined BHSI as SEO for the Middle East in 2018. A chemical engineer by background, he has more than 20 years of experience with energy and technical risks. As he assumes his additional responsibilities, Alessandro will remain based in Dubai.

© 2020 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.

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has introduced two new policies tailored expressly for UK financial institutions: Professional First Financial Institutions Civil Liability Insurance, and Executive First Financial Institutions D&O Liability Insurance.

Both policies clearly articulate broad coverage for liability exposures faced by large financial institutions. In an era where managing reputational risk is critical, both policies also include coverage to support crisis management and offer expansive coverage for investigations.

“Executives and professionals across Europe face significant liability exposures, and a volatile market for coverage. BHSI is pleased to provide UK financial institutions with the certainty of broad, clearly-written coverage, backed by the financial strength, stability and claims service of BHSI,” said Thomas Dilley, Head of Financial Institutions, BHSI, UK & Ireland.

Professional First Financial Institutions Civil Liability Insurance includes state-of-the-market features such as continuity coverage and express coverage for claims arising from breaches of privacy. Executive First D&O Liability Insurance includes key features designed to ensure the most reliable coverage for individuals, from automatic reinstatement of Side A limits, to an unlimited discovery period for retired executives.
Last year, BHSI introduced Professional First Asset Management Liability Insurance in the UK and Ireland.

© 2020 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.

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance Company expanded its Executive & Professional Lines offerings in New Zealand with the introduction of Management Liability and Association Liability Insurance policies.

“BHSI’s new Management Liability and Association Liability policies reflect our commitment to providing broad coverage in simple, concise wordings to address the multifaceted management liability risks of today’s world,” said Cameron McLisky, Head of Executive and Professional Lines, Australasia. “They also allow us to provide private company and non-profit organizations with sound solutions backed by BHSI’s financial strength and commitment to claims handling excellence.”

BHSI’s Management Liability policy is designed to address the wide range of claims private companies can face. Brokers and Insureds can customize coverage to include Directors & Officers Liability, General Liability, Statutory Liability, Employers Liability, Employment Practices Liability and/or Fidelity Insurance.

The Association Liability policy offers non-profit organizations similar flexibility and coverage tailored to their needs, with the addition of Professional Indemnity protection.

© 2020 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.

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance has promoted team member Michael Pille to head its fast-growing healthcare underwriting operation and team in Germany.

“As Head of Healthcare, Michael will lead our effort to service the German healthcare market and expand our local healthcare team,” said Andreas Krause, Country Manager for Germany, BHSI. “In this newly created position, Michael will elevate our ability to deliver innovative professional liability solutions for the healthcare industry, including novel SIR (stop loss) alternatives, backed by BHSI’s underwriting expertise and commitment to claims handling excellence.”

Michael, who has more than a decade of underwriting experience in the German market, joined BHSI in 2017 as Senior Underwriter, Liability. He holds a bachelor’s degree in Insurance Management and a master’s Degree in Insurance Law from Cologne University of Applied Science. Michael is a Fellow of the Chartered Insurance Institute.

© 2020 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.

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance has launched Professional First Technology Liability Insurance policies in Australia and New Zealand. Both policies clearly articulate broad, customizable professional liability protection for the full scope of services provided by technology and tech-related firms.

“BHSI is committed to simplicity and that is evident in these easy-to-navigate policy forms which are readily tailored to the individual needs and exposures of technology firms and backed by BHSI’s financial strength,” said Cameron McLisky, Head of Executive & Professional Lines for Australasia at BHSI. “We take a partnership approach to this market, with our brokers and customers collaborating with our decision makers, from underwriting, to claims service.

With BHSI’s Professional First Technology Liability Insurance, customers choose any or all of three separate towers to secure professional indemnity, cyber and general liability covers. Limits and coverage can be structured to address the individual needs and preferences of a wide variety of tech firms, including those involved in software design and development, systems integration, technology consulting, telecommunications and IT training.

© 2020 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.