Berkshire Hathaway GUARD Insurance Companies has added Illinois to the list of states where the insurer offers its Commercial Package Policy.
The product includes commercial property featuring limits up to $120 million per location (higher limits considered), with an enhanced causes of loss form, including built-in equipment breakdown, crime coverages as well as broad inland marine coverages; general liability with aggregate limits up to $6 million; and commercial umbrella for added protection.
According to Sy Foguel, Berkshire Hathaway GUARD CEO, the product is geared toward larger insureds, and complements its Businessowner’s Policy offering.
Illinois is the fourth state where GUARD’s Commercial Package is available, after rollouts in Pennsylvania and New Jersey in 2019 and Michigan earlier this year. Availability in more states is expected soon.
Lyle Hitt, chief insurance officer of Property and Casualty Insurance, said the commercial package enhances its base coverages with a range of add-ons, limit options and access to both proprietary and industry specific endorsements.
Berkshire Hathaway GUARD’s Commercial Package product is designed to address the insurance needs of larger, more complex operations with multiple exposures. Initial target markets include light-to-medium manufacturing, wholesalers and distributors, large offices/habitational buildings, truck stops/travel plazas, resort hotels, and country clubs/golf courses.
Discounts are available when seeking quotes for two or more additional applicable lines, like worker’s compensation or commercial auto.
Berkshire Hathaway GUARD Insurance Companies is a property and casualty insurance specialist writing $2 billion in premium nationwide. GUARD offers a variety of products for both commercial and personal lines of insurance. Berkshire Hathaway GUARD Insurance Companies maintains a total of eight offices throughout the country.
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