Berkshire Hathaway Specialty Insurance (BHSI) has rolled out two new policies for UK financial institutions that articulate broad coverage for liability exposures faced by them.
Professional First Financial Institutions Civil Liability Insurance and Executive First Financial Institutions D&O Liability Insurance are the new policies introduced by BHSI.
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The policies are designed to facilitate crisis management as well as provide coverage in the event of investigations.
Professional First Financial Institutions Civil Liability Insurance offers continuity coverage and express coverage for claims resulting from the compromise of privacy.
Executive First D&O Liability Insurance is said to ensure a reliable coverage for individuals from automatic reinstatement of Side A limits, to an unlimited discovery period for retired executives.
Commenting on the new proposition, BHSI, UK & Ireland Financial Institutions head Thomas Dilley said: “Executives and professionals across Europe face significant liability exposures, and a volatile market for coverage.
“BHSI is pleased to provide UK financial institutions with the certainty of broad, clearly-written coverage, backed by the financial strength, stability and claims service of BHSI.”
Earlier this month, BHSI launched Professional First Technology Liability Insurance policies in Australia and New Zealand.
The company launched Professional First Asset Management Liability Insurance in the UK and Ireland in 2019.
