Berkshire Hathaway Specialty Insurance Co. (BHSI) announced it has introduced a new Contractors Plant & Equipment (CP&E) policy for customers in Australia.
“With this new policy, contractors can easily and efficiently address their property damage and liability exposures, including road risk, in a single policy,” said Dimitry Zilberud, head of Marine, BHSI Australasia. “This new product is an excellent complement to our existing capabilities in property, construction, mining and casualty.”
BHSI said its CP&E policy wording combines breadth of coverage with the flexibility to respond to the specific needs of customers across a multitude of industries. The new policy includes numerous coverages including:
- Material damage (with a range of automatic benefits)
- Hired in plant
- Financial protection for plant and interruption
- Road risk
- General liability
- Replacement value for plant (up to 36 months old) after total loss.
Strong property and liability cover offers far-reaching coverage for a wide range of sectors, including earthmoving and excavation contractors, road works, builders/construction, plant hire companies, farming and agriculture.
In addition, this product brings with it BHSI’s claims service, local and direct to broker underwriting expertise allied with BHSI’s strong risk engineering capabilities.
BHSI will conduct this business directly with brokers.
Source: Berkshire Hathaway Specialty Insurance (BHSI)
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