The year 2013 has been quite eventful for Berkshire Hathaway Specialty Insurance (BHSI)—or half of a year, anyway.
Executive SummaryBy all accounts, Berkshire Hathaway Specialty is now a significant player in the insurance world, but their success isn't just coming from the financial backing of Warren Buffett's Berkshire Hathaway brand, says Dave Bresnahan, executive vice president in charge of casualty, executive and professional lines, and the healthcare/med mal business for BHSI. Here, he discusses how the company is exceeding customers' expectations, and what is up next for the young, yet experienced, insurer.
Since opening its doors for business in June with much fanfare, the new venture has gone from four to nearly 80 employees, started four new business segments—property, casualty, executive & professional lines, and healthcare/medical malpractice—and is in the process of getting its fifth area that will concentrate on program business off the ground now.
It also opened offices in five cities across the United States—Atlanta, Boston, Chicago, Los Angeles and New York.
By all accounts, BHSI is now a significant player in the insurance world, which shouldn’t be surprising considering it is backed by the financial capital of Warren Buffet’s Berkshire Hathaway. But while Dave Bresnahan, executive vice president in charge of casualty, executive and professional lines, and the healthcare/med mal business for BHSI, acknowledges the established and successful Berkshire brand has helped the young operation earn credibility in the marketplace, he also attributes the overwhelmingly positive response from customers to other factors as well.
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