Berkshire Hathaway Specialty Insurance (BHSI) today launched Professional First Bankers Professional Liability Insurance in the U.S., adding to its executive and professional liability products for financial institutions.
Professional First Bankers Professional Liability Insurance offers banks, their executives and employees, coverage for alleged errors or omissions in professional services rendered to customers. The policy expands the definitions of “Professional Services” and “Claim,” and can be enhanced to include lender’s liability. Coverage is customizable for banks of all sizes.
With the addition of Professional First Bankers Professional Liability Insurance, BHSI expands its slate of executive and professional liability products for banks. The company previously introduced Executive First D&O Liability Insurance and Fiduciary Liability Insurance, and also writes financial institutions bonds for its banking customers.
Bankers Professional Liability is the third offering in BHSI’s Professional First suite of products. It joins Asset Management Liability Insurance, which provides errors and omission and directors and officers insurance for mutual funds, alternative funds and asset managers, and Insurance Company Professional Liability Insurance, which provides errors and omissions coverage for U.S. insurance companies, executives and employees. All of the products in the Professional First suite are designed to provide current coverage, customized for the professional services risks of financial institutions.
BHSI provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs, and homeowners insurance. It underwrites on the paper of Berkshire Hathaway’s National Indemnity group of insurance companies.
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