Berkshire Hathaway Specialty Insurance has added asset management liability insurance to its Professional First suite of professional liability products.

The policy provides clear and customizable E&O and D&O insurance for mutual funds, alternative funds and asset managers, BHSI said in a statement.

Coverage can be enhanced to include fiduciary liability, employment practices liability and cost of corrections, the company said. It includes broad definitions of both “professional services” and “claim,” as well as limited exclusions.

BHSI said it expects to expand its Professional First line in early 2015, launching professional liability coverages tailor-made for banks and insurance companies.

Source: Berkshire Hathaway Specialty Insurance