Insurance Industry News and Information
Berkshire Hathaway Specialty Insurance Enters the Marine Insurance Market in Canada
Boston, MA (Mar. 22, 2017) – Berkshire Hathaway Specialty Insurance (BHSI) has announced that it is introducing four new executive & professional lines products for financial institutions and named Andrew Knight as National Director of Financial Institutions, Executive & Professional Lines, in Canada.
The new products are:
- Professional First™ Asset Manager Liability Insurance tailored for hedge funds, mutual funds, private equity funds, venture capital funds and other investment funds and firms.
- Professional First™ Bankers Professional Liability Insurance for banking and lending institutions, including credit unions.
- Professional First™ Insurance Company Professional Liability Insurance for property & casualty and life insurance companies.
- Financial Institution Bonds, including manuscript/enhanced Forms 14, 24, 25 for Canada and fiduciary bonds.
"We are pleased to have Andrew leading our efforts as we round out our executive & professional lines offerings for financial institutions," said Michael Densham, Head of Executive and Professional Lines, Canada, BHSI. "With our new, current and concise forms, financial institutions across Canada will benefit from coverage customized to their specific needs and backed by BHSI's financial strength."
BHSI already offers Executive First™ Directors & Officers Liability, Side A DIC and Fiduciary Liability Insurance for Canadian financial institutions.
Andrew joins BHSI with more than a decade of industry experience. He was most recently Director & FPC National Practice Leader, Financial Institutions, at Chubb Insurance. In 2015 he was named Young Insurance Professional of the Year, by Young Insurance Professionals Toronto. He holds a bachelor's degree in Business Administration, Risk Management and Insurance from Olivet College.
"BHSI's financial strength gives us tremendous flexibility so we can offer features like full-limit Cost of Corrections coverage with our Asset Manager Liability Policy, and take a highly responsive, highly customized approach to the financial institutions segment," said Andrew. "Working with Paul Emerson, our Vice President of Liability Claims, we also offer customers dedicated local expertise when they face claims."
About Berkshire Hathaway Specialty Insurance
Berkshire Hathaway Specialty Insurance (bhspecialty.com) provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs, medical stop loss, and homeowners insurance. The actual and final terms of coverage for all product lines may vary. In Canada it underwrites on the paper of National Liability & Fire Insurance Company, a part of Berkshire Hathaway's National Indemnity group of insurance companies, which hold financial strength ratings of A++ from AM Best and AA+ from Standard & Poor's. Based in Boston, Berkshire Hathaway Specialty Insurance has offices in Atlanta, Boston, Chicago, Houston, Irvine, Los Angeles, New York, San Francisco, San Ramon, Seattle, Stevens Point, Auckland, Brisbane, Düsseldorf, Hong Kong, Macau, Melbourne, Singapore, Sydney and Toronto.
SOURCE: Berkshire Hathaway Specialty Insurance
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