Category: Berkshire Hathaway Specialty Insurance

Categories
Berkshire Hathaway Specialty Insurance

Berkshire Hathaway Specialty Insurance Names John Roe as Head of Casualty Construction, North America

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has named John Roe as Head of Casualty Construction, North America, responsible for the company’s construction professional, homebuilders and construction casualty product lines and loss control.

“John has been integral to the build out of our casualty construction platform, and we are pleased to have him leading our efforts to bring BHSI’s financial strength, long term focus, and underwriting and service excellence to this sector,” said Meredith Bullock, Head of Casualty, North America, BHSI.

John, who spent the last six years as Head of Construction, Eastern Region, at BHSI, is taking the reins of Casualty Construction from Bill Sullivan. Bill is retiring after a distinguished 37-year career in the insurance industry, including most recently six years leading BHSI’s efforts in the North American casualty construction marketplace.

© 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.

Categories
Berkshire Hathaway Specialty Insurance Insurance

Feeling Adventurous? Berkshire Hathaway Has Insurance For You

If you’ve got the adrenaline, Berkshire Hathaway has the insurance for your adventures.

Berkshire Hathaway Travel Protection (BHTP), a leading provider of travel insurance, has announced the launch of AdrenalineCare, a new comprehensive travel insurance that is specifically tailored for adventure travelers, with features such as enhanced baggage protection, coverage for extreme activities and higher medical limits
.
“Our annual State of Travel Insurance study found that adventure travel continues to be one of the most popular and fastest-growing travel types,” said Dean Sivley, president of BHTP. “Adventure travelers are eager to explore the world but also know that their adrenaline-packed trips warrant more protection. We created AdrenalineCare so they can fully enjoy their adventures without worrying about equipment delays or insufficient medical coverage if traveling in a remote location.”

AdrenalineCare coverage includes:

• Up to $750,000 in medical evacuation coverage, BHTP’s highest limits
• Up to $50,000 in emergency travel medical insurance
• Up to $500 in equipment delay coverage if the traveler’s sports equipment such as skis, scuba gear, mountain climbing equipment or other gear is delayed 6 hours or longer
• Up to $1,500 in baggage coverage to cover lost, stolen or damaged luggage
• A $150 fixed benefit for the inconvenience if baggage is delayed 12 or more hours; if eligible, travelers are awarded the full $150 to use as they wish for simply enduring the delay
• Up to $200 to reimburse the fee paid for a hunting or fishing license if the insured must cancel
• Comprehensive trip cancellation, interruption, delay, and missed connection protection
• 24/7 global travel assistance available via phone or email for travel and medical emergencies.

According to BHTP’s State of Travel Insurance 2019 report, adventure travelers take more trips than regular road trippers (4.87 annually versus 3.45). Whether they are traveling to experience a sport like motor racing, or packing expensive equipment to ski or climb, they also face greater risk. AdrenalineCare is tailored specifically for these adventurous travelers.

Well-known for its revolutionary travel insurance products and services, BHTP also provides travelers with an easy “pic-and-a-click” claims process, flight tracking and expedited payments for travel disruptions via BHTP Burst.

© 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.

Categories
Berkshire Hathaway Specialty Insurance Insurance

Berkshire Hathaway Specialty Insurance Company Adds Transactional Liability Insurance in Asia and the Middle East

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance Company (BHSI) has begun offering Transactional Liability Insurance through its Asia and Middle East (AME) regions and appointed Steven Harwood as the Head of Transactional Liability in AME.

“Properly navigating the risks of corporate transactions is critical to growing companies and industry leaders alike,” said Marc Breuil, Head of AME, BHSI. “This expansion enhances our ability to provide transactional liability underwriting expertise and know-how through our regional hubs of Singapore, Hong Kong, and Dubai.”

“Steve Harwood has extensive experience helping companies respond swiftly and strategically to the risks of mergers, acquisitions and other transactions, and we are delighted that he has joined BHSI.”

BHSI will focus primarily on providing Representations and Warranties Insurance as well as Tax Liability Insurance across AME. The company already provides Transactional Liability coverage from offices in the U.S., Canada and the U.K.

Steven comes to BHSI from Pembroke Managing Agency Underwriting at Lloyd’s Japan, where he was Senior Underwriter & Solicitor, M&A Insurance. Before that, he was Senior Associate at Herbert Smith Freehills LLP, specializing in mergers and acquisitions, and Divisional Director (London and Tokyo) at Willis Faber & Dumas Ltd, a Lloyd’s Reinsurance Broker. Steven, who served as a Royal Navy Officer, holds a bachelor’s degree from London University and a master’s degree from International Budo University in Japan.

© 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.

Categories
Berkshire Hathaway Specialty Insurance Insurance

Berkshire Hathaway Specialty Insurance Debuts Professional First Asset Management Liability Insurance in the UK and Ireland

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has launched Professional First Asset Management Liability Insurance in the UK and Ireland.

The insurance provides broad, clearly worded professional liability, directors & officers liability, and crime coverage tailored for investment managers and funds in the UK and Ireland.

“Highly volatile investment and economic markets, coupled with increased regulatory oversight and operational exposures, have made investment managers increasingly vulnerable to claims,” said Tom Dilley, Head of Financial Institutions, BHSI in the UK. “Our Professional First Asset Management Liability policy provides investment managers and funds in the UK and Ireland with comprehensive, customizable protection, backed by marketing-leading financial strength and claims handling expertise.”

The new policy encompasses a variety of professional services and can be tailored to suit different investment structures and investment classes. It provides security for directors and officers for claims arising from wrongful acts in the management of the company or fund, and a dedicated tower of limits for Alternative Investment Fund Managers Directive (AIFMD) related losses. The policy also provides additional limits for non-executive directors, unlimited lifetime cover for retired directors and officers, and comprehensive crime coverage.

BHSI’s Professional First suite of professional liability products is designed to provide clear, current and customizable coverage for the risks of financial and commercial firms. BHSI will be expanding the suite with additional products in the UK and Ireland in 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.

Categories
Berkshire Hathaway Specialty Insurance

Berkshire Hathaway Specialty Insurance Appoints Heads of Marine & Property in the UK and Ireland

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has appointed Pedro Mairos as Head of Marine, and Sean Mannion as Head of Property, for the UK and Ireland.

“With Pedro and Sean leading our teams, we are bringing to market marine and property solutions built with deep local expertise, and grounded in stellar financial strength and claims service,” said Chris Colahan, Head of UK and Europe, BHSI. “Our new line of flexible marine products marks an important advance in providing broad, multi-line solutions for customers and brokers in the UK and Ireland.”

Pedro comes to BHSI with nearly two decades working in marine insurance around the globe. He was most recently UK Deputy Chief Underwriting Officer and Head of Marine Cargo Underwriting, UK Branch, at AXA Corporate Solutions. He also held marine insurance roles at Axa in Paris, Hong Kong and Dubai.

Sean takes the reins as Head of Property, UK and Ireland, with more than 35 years of industry experience. He was most recently Head of Property & Energy Lines, Commercial Insurance UK, at Zurich. Prior to that he was Senior Vice President and Global Property Executive at AIG UK. Sean is a Fellow of the Chartered Insurance Institute.

Pedro and Sean are 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.

Categories
Berkshire Hathaway Specialty Insurance Insurance

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

(BRK.A), (BRK.B)

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.

Categories
Berkshire Hathaway Specialty Insurance Insurance

Berkshire Hathaway Specialty Insurance Adds Property Construction in UK & Ireland

(BRK.A), (BRK.B)

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.

Categories
Berkshire Hathaway Specialty Insurance

Berkshire Hathaway Specialty Insurance Expands Team in Europe

(BRK.A), (BRK.B)

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.

Categories
Berkshire Hathaway Specialty Insurance

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

(BRK.A), (BRK.B)

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.

Categories
Berkshire Hathaway Specialty Insurance

Berkshire Hathaway Specialty Insurance Expands Team in Dubai

(BRK.A), (BRK.B)

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.