Berkshire Hathaway Specialty Insurance (BHSI) has unveiled its new insurance policy in Asia to enable firms to deal with increasing incidents of fraud.

Dubbed Commercial Crime Insurance, the new policy provides coverage against both traditional employee crime and external crimes, such as credit card fraud, funds transfer fraud, impersonation and forgery coverage.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Impersonation coverage shields firms from financial losses when a criminal imitates a staff, executive or business associate of the insured to commit fraud.

Additionally, BHSI’s new insurance plan comprises various extensions such as coverage for lost establishment fees.

BHSI Asia head of executive and professional lines Scotland Walsh-Riddle said: “Corporate fraud is becoming increasingly sophisticated as technology advances at an exponential pace across the globe. Companies now face new threats and are tasked with protecting both traditional and digital assets.

“Our policy is important protection for a company’s balance sheet by both insuring against losses arising from a wide range of threats and providing support to investigate the cause of a loss.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“The Commercial Crime Policy was crafted with BHSI’s clear and concise underwriting and is backed by our excellent claims handling,” Scotland added.

This October, BHSI started underwriting casualty and construction insurance in France.

Before that, the company entered the surety market in Australia to offer contract surety products for large and mid-sized contractors across the country.