Berkshire Hathaway Specialty Insurance (BHSI) is rolling out Professional First Insurance Company Professional Liability Insurance, which provides customizable coverage for U.S. insurance companies, their executives and employees.
The policy provides coverage for claims arising from alleged errors or omissions in the provision of professional services, including claims involving extra contractual allegations. It contains expansive definitions of both “professional services” and “claim”, and a flexible notice provision.
Professional First Insurance Company Professional Liability Insurance is the second offering in BHSI’s suite of professional liability products for the professional and management service risks of financial firms. The first offering in this suite, announced earlier this year, was BHSI’s Professional First Asset Management Liability Insurance, which provides errors and omissions and directors and officers insurance for mutual funds, alternative funds and asset managers.
Later this year, BHSI will introduce a third offering in its Professional First suite designed for banks: Professional First Bankers Professional Liability Insurance, which will provide professional liability insurance for banks, their executives and employees.
Berkshire Hathaway Specialty Insurance 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 and is based in Boston, with offices in Atlanta, Boston, Chicago, Fort Lauderdale, Houston, Los Angeles, New York, San Francisco, San Ramon, Stevens Point, Hong Kong, Melbourne, Singapore, Sydney and Toronto.