BHSI Launches Insurance Products for Directors & Officers in Asia

Berkshire Hathaway Specialty Insurance Co. (BHSI) is expanding its executive & professional lines capabilities in Asia with the introduction of Executive First™ Public Offering of Securities Insurance (POSI) and Executive First™ Side A Difference in Conditions (DIC) liability insurance.

“We are pleased to put BHSI’s financial strength to work to give directors and officers the utmost security as they assume directorships and embark on public offerings in uncertain times,” said Patrick Ko, head of directors and officers, BHSI, in Hong Kong.

“With our POSI, companies and directors and officers can be confident that they are well protected against liabilities associated with capital raising transactions and public security offerings. In addition, our Excess Side A DIC coverage provides additional peace of mind for individual directors and officers who can find their personal assets at risk due to their respective board positions,” he said.

“BHSI can provide the large-scale capacity these exposures often demand – up to US$100 million,” said Emily Poh, head of Executive & Professional Lines, BHSI in Singapore.

BHSI’s new POSI provides coverage for the company (including companies listed on U.S. exchanges), its directors and officers, controlling and selling shareholders, and offering underwriters in litigation arising from a capital raising event, such as an initial public offering (IPO).

BHSI’s Excess Side A DIC coverage is designed for individual directors and officers, including those serving on the boards of U.S. listed public companies. If the company cannot indemnify individuals, the coverage is intended to apply when their underlying D&O Liability Insurance policy cannot respond because its limits have been exhausted or a DIC event occurs.

Source: Berkshire Hathaway Specialty Insurance Co. (BHSI)

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