View this article online: https://www.insurancejournal.com/news/international/2018/04/09/485696.htm
Berkshire Hathaway Specialty Insurance Co. (BHSI) has introduced Executive First Private Company Portfolio and Executive First Nonprofit Organization Portfolio policies in Asia.
“Our Private Company and Nonprofit Organization Portfolio forms provide far-reaching, contemporary coverage backed by BHSI’s financial strength,” said Nero Shiu, senior manager, Executive & Professional Lines, BHSI in Hong Kong. “Both policies reflect our commitment to providing the simple, concise solutions customers need for multifaceted management liability risks in today’s world.”
The Private Company Portfolio extends coverage to both individuals and the entity and includes directors & officers liability, employment practices liability, and employee dishonesty coverages.
The Nonprofit Organization Portfolio offers similar coverages, with the addition of professional indemnity protection to address the specific needs of a nonprofit organization. Key features include pre-investigations cost coverage, court attendance coverage, and advancement of defense costs. Professional indemnity protection includes coverage for corrective actions to help nonprofit organizations mitigate potential losses and avoid claims.
“Our new policies address the full range of claims private companies, nonprofit organizations, and their directors and officers may encounter today — from lawsuits arising from breach of compliance and disclosure requirements, to employee theft, to claims sparked by the acts of employees,” said Edwin Sim, assistant vice president, Executive & Professional Lines, BHSI in Singapore.
Source: Berkshire Hathaway Specialty Insurance (BHSI)