Berkshire Hathaway GUARD Insurance Companies has launched a new commercial package product in Pennsylvania.
The new offering includes: commercial property with limits up to $120 million per location with an enhanced causes of loss form which includes built-in equipment breakdown and inland marine coverages as well as crime coverage; general liability with base limits of $1 million to $6 million with even higher limits considered; employment-related practices liability insurance (EPLI); and commercial umbrella for added protection.
According to CEO Sy Foguel, the commercial package in product will be available in additional states soon.
The new package product is designed to complement the company’s current businessowner’s policy by addressing the insurance needs of larger, more complex operations or businesses with multiple exposures. Initial target markets include light-to-medium manufacturing, wholesalers and distributors, truck stops/travel plazas, resorts, and country clubs with plans to expand into additional markets.
Discounts are available when two or more lines are purchased as well as additional discounts based on unique business characteristics.
In October of 2012, GUARD was acquired by Berkshire Hathaway Inc. – an international holding company with diverse interests that include insurance and reinsurance. In 2013, GUARD unveiled a new identity as Berkshire Hathaway GUARD Insurance Companies.
GUARD offers a national footprint with a growing list of insurance products, including: workers’ compensation, property/liability via a businessowner’s policy, commercial auto, umbrella, professional liability, disability, and homeowners.
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