Category: Insurance

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Berkshire Hathaway Specialty Insurance Insurance

Berkshire Hathaway Specialty Insurance Opens New Office in Cologne

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has appointed Andreas Krause as Country Manager for Germany and established a new office in Cologne.

BHSI also has an office in Munich, Germany, and underwrites property, casualty, medical malpractice, marine and executive & professional lines for a wide range of customers throughout the country.

“Drawing on his extensive experience in the European insurance industry, Andreas will lead our efforts to grow our team and our customer and broker relationships in Germany, and coordinate with colleagues throughout Europe and around the world to bring BHSI’s formidable underwriting, service and financial strength to the marketplace.” said Chris Colahan, President, BHSI, Europe and the UK. “We are pleased to further establish our geographic presence in Germany and our leadership team in Europe.”

Andreas comes to BHSI with nearly 20 years of industry experience. He was most recently General Manager, Germany, at QBE Europe. Before that he held various roles in both underwriting and distribution at AIG Europe, and was Director of Broking at AON Germany in Hamburg. He holds a bachelor’s degree from Johann-Wolfgang Goethe University, Frankfurt, and a master’s degree in Business Administration from Catholic University Eichstätt.

© 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.

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Insurance

Berkshire Hathaway GUARD Insurance Companies Complete Pilot of Safe Drive Systems Radar Collision Avoidance Tech

(BRK.A), (BRK.B)

Safe Drive Systems (SDS), a leading developer and distributor of aftermarket advanced auto safety technologies, and its partner, Berkshire Hathaway GUARD Insurance Companies, have announced the end of the first stage of their ongoing fleet technology pilot project.

Ten months ago, Safe Drive Systems radar accident prevention systems were installed in the vehicles of selected fleet customers of Berkshire Hathaway GUARD Insurance Companies to evaluate whether the system and the provided service would reduce the frequency and severity of their claims. The vehicles were equipped with an integrated radar accident prevention system and fleet management system, including real-time tracking abilities, report generation software, driver behavior scoring, and the Fleet SDS mobile application.

According to Safe Drive System’s CEO Tuvi Cohen, “The system is currently installed in more than 580 vehicles that collectively have been driven more than 5,000,000 miles and showcases the driver education process to yield positive trends and results in driver performance.”

As noted by SDS’s Cohen, “The radar accident prevention system sends alerts and notifications to the driver which creates a subconscious awareness that was absent prior to installing the system. Ninety-two percent of drivers immediately reduced their speed whenever the radar system warned them of a potentially high-risk situation that could have caused an accident on the road.”

The radar accident prevention system works in all weather conditions and uses both radar and camera sensors to alert drivers of potential hazards. The system paired with the fleet management tool provides the owner or operator insight in “real time” to improve driver behavior and performance with ease.

Cohen notes “Our mission for years has been to make the road a safer place to be through technology. An ambitious idea that drives everything we do — from individual vehicle protection to entire fleet management solutions.”

Sy Foguel, President and CEO of Berkshire Hathaway GUARD Insurance Companies added, “The SDS system helps our insureds manage their fleets and also provides us with telematics data. What we value most, however, is the potential of the system to help avoid auto accidents and save lives.”

© 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.

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Berkshire Hathaway Specialty Insurance Insurance

Berkshire Hathaway Specialty Insurance Names Mark Walker, Head of Customer and Broker Engagement for UK

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has expanded its team in the UK with the appointment of Mark Walker as Head of Customer and Broker Engagement. Mark will be based in BHSI’s London office.

“I’m extremely pleased to have Mark leading our efforts to expand our broker and customer relationships across the UK. He brings to this new role more than two decades of industry experience and a great passion and commitment to growing BHSI’s partnerships in this important market,” said Chris Colahan, President, UK and Europe, BHSI.

Mark was most recently Head of SME, Affinity & Digital, Asia Pacific at QBE. Before that, he was CEO Hong Kong at QBE. He also served as CEO, Hong Kong & Specialty at RSA and held numerous other leadership positions at RSA in the UK and Emerging Markets over more than a decade.

© 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.

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Berkshire Hathaway Specialty Insurance Insurance

Berkshire Hathaway Specialty Insurance Establishes Adelaide Office

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI) has expanded its presence in Australia to South Australia, opening a new office in Adelaide and naming Monica Holland as Underwriting Manager.

“We are pleased to expand our team and geographic reach with our new Adelaide office, which will provide our suite of specialty products to customers and brokers. Monica has extensive experience in the South Australia insurance industry, and we are pleased to have her representing BHSI. Monica’s local expertise will allow us to partner more effectively with our brokers and customers in South Australia.” said Mark Lingafelter, President, Australasia, BHSI.

As Underwriting Manager for South Australia, Monica will work closely with BHSI’s team in Melbourne to deliver the company’s full range of product offerings. This includes property, liability, executive & professional lines, marine, accident & health and healthcare insurance solutions. She will also serve as Casualty Manager for South Australia.

Monica brings nearly 25 years of diverse industry experience to BHSI. She has most recently served as State Manager and Distribution Manager for a global insurer. Monica holds a University Certificate of Management, Business Management, from Deakin University and is a Senior Associate, Insurance, at ANZIIF.

© 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.

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Berkshire Hathaway Specialty Insurance HomeServices of America Insurance

Berkshire Hathaway Specialty Insurance Opens Office in Paris

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance (BHSI), in coordination with its affiliate, has received its insurance license in France, established a new office in Paris, and appointed François-Xavier d’Huart as Country Manager.

“We are pleased to continue our strategic expansion in Europe, with our new office in France and François-Xavier leading our efforts to bring BHSI’s underwriting and claims acumen, financial strength, and long-term focus to the French market,” said Chris Colahan, President, BHSI in Europe and the UK. “François-Xavier brings extensive experience to BHSI, and I am so pleased to have him at the helm as we build our product line and team in Paris.”

Beginning immediately, BHSI is underwriting property, casualty, and executive & professional lines in France. The company expects to launch several other products in France in the months ahead.

François-Xavier comes to BHSI with 15 years of industry experience. He was most recently Head of Client and Broker Management for France at AXA XL (previously XL Catlin). Before that he was Chief Executive Officer, Office Lyonnais d’Assurances and Interassur, at SATEC, and Head of Marine Cargo & Hull for Asia at AXA Asia.

François-Xavier holds a master’s degree in Engineering from SUPELEC and a master’s degree in Economics and Management from the IFP School. He received his actuarial degree from Centre d’Etudes Actuarielles.

BHSI’s Paris office is located at 88 & 92 Avenue Charles de Gaulle, 92200 Neuilly-sur-Seine.

© 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.

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Insurance

Berkshire Launches New Comprehensive Small Business Insurance Brand, “THREE”

(BRK.A), (BRK.B)

Why is small business insurance so complicated? It’s a question that Berkshire Hathaway’s out to answer.

Boasting a simple, plain English approach, Berkshire Hathaway’s new insurance Brand, THREE, is looking to make small business insurance a more straight forward and lower-priced product.

Traditionally, small businesses seek separate coverage for business property, professional liability, worker’s compensation insurance, commercial vehicles, cyber coverage, and directors and officers coverage, but THREE is looking to modernize coverage by offering comprehensive insurance that covers all of these areas.

THREE is a brand of Berkshire Hathaway Direct Insurance Company, and a company representative says it will save customers roughly 20% over the cost of these insurances purchased separately.

With an inclusive policy, the company notes that customers will be less likely to find that they have gaps in coverage despite owning multiple policies.

“Most policies take pages and pages of legalese to tell you what’s not covered,” a THREE representative noted. “Our three-page, plain-English policy eliminates all that by making it comprehensive.”

For now, THREE is available in Connecticut, Illinois, Nebraska and Texas, with the plan to be available in most states by 2020.

© 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.

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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
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“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.

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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.

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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.

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Berkshire Hathaway Insurance Group Insurance

Berkshire Hathaway Insurance Group Creates Berkshire Hathaway European Insurance DAC

(BRK.A), (BRK.B)

Berkshire Hathaway Insurance Group has announced that Berkshire Hathaway European Insurance DAC (BHEI) has been granted a Certificate of Authorization by the Central Bank of Ireland to operate as an insurer in Ireland and the European Economic Area (EEA).

Incorporated in the Republic of Ireland and based in Dublin, BHEI will operate as a Designated Activity Company, providing service to the company’s customers and brokers in Ireland and, using European freedom of services rights, across the EEA.

BHEI will be the insurance company utilized by a number of Berkshire Hathaway’s insurance brands operating in the EEA, including Berkshire Hathaway Specialty Insurance, MedPro, and Faraday.

Where necessary or required, EEA business previously transacted through BHEI’s UK based direct parent Berkshire Hathaway International Insurance Limited (BHIIL) will be transferred from BHIIL to BHEI, in accordance with applicable law, to achieve a smooth transition for its customers and brokers upon the UK leaving the European Union. BHIIL, however, will continue to operate its significant general insurance business in the UK market and overseas under its existing licenses. BHEI intends to commence writing business by the end of March 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.