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Berkshire Hathaway : Specialty Insurance Launches Crime Protection with Innovative Impersonation Endorsement in Canada

05/27/2015 | 04:54pm US/Eastern

By a News Reporter-Staff News Editor at Insurance Weekly News -- Berkshire Hathaway Specialty Insurance (BHSI) announced that it is introducing the Crime Protection Policy and the Executive Impersonation Coverage endorsement for large public and private companies in Canada.

"Designed by BHSI executives with more than three decades in the fidelity and crime insurance market, our Crime Protection Policy makes it easy for brokers and customers in Canada to secure broad coverage and address the rising risk of fraud losses," said Michael Densham, Vice President, Executive and Professional Lines, Canada, BHSI. "We are pleased to bring crime coverage to market with significant capacity -- limits of $25 million and more - coupled with the financial strength of the Berkshire Hathaway group of insurance companies."

BHSI's Crime Protection Policy is underwritten on a discovery basis. The policy's definition of "employee" automatically includes independent contractors, consultants and others. Client coverage is built into the base form.

The new Executive Impersonation Coverage endorsement expands coverage and provides significant limits to respond to losses arising when a perpetrator impersonates an employee, executive or a business associate of the insured for the purpose of defrauding the insured.

"Both our Crime Protection Policy and Impersonation endorsement were created with concise contract language and are supported by a streamlined approach that makes it simple for our customers and brokers to do business with us," said Brian O'Neill, Product Line Leader, Fidelity and Crime Insurance, U.S and Canada, BHSI. "Our customers and brokers also have the confidence that comes from BHSI's team, which has exceptional experience underwriting crime coverage and managing these claims in Canada and around the world." Berkshire Hathaway Specialty Insurance (www.bhspecialty.com) provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs, and homeowners insurance. 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, Fort Lauderdale, Houston, Los Angeles, New York, San Francisco, San Ramon, Stevens Point, Toronto, Hong Kong, Singapore and Sydney. For more information, contact info@bhspecialty.com. View source version on businesswire.com: http://www.businesswire.com/news/home/20150519006294/en/

Keywords for this news article include: Investment and Finance, Berkshire Hathaway Specialty Insurance.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2015, NewsRx LLC

(c) 2015 NewsRx LLC, source Business Newsletters

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