The Professional First Technology Liability insurance offered by BHSI, covers three towers of professional indemnity, cyber and general liability covers
Image: BHSI offers new professional liability for technology professionals. (Credit: Pixabay/fancycrave1.)
Berkshire Hathaway Specialty Insurance (BHSI), an American insurance company, has launched Professional First Technology Liability Insurance policies in Australia and New Zealand.
The new products are designed to offer broad, customisable professional liability protection for full scope of services offered by technology and tech-related companies.
As per Berkshire Hathaway, its Professional First Technology Liability Insurance, offers customers a choice of any or all of three separate towers to secure professional indemnity, cyber and general liability covers.
Limit and coverage of the policy can be customised as per individual needs
The limit and coverage of the policy can also be customised to address the individual needs and preferences of a variety of tech firms
The technology companies can be those involved in software design and development, systems integration, technology consulting, telecommunications and IT training.
Berkshire Hathaway Specialty Insurance Australasia executive & professional lines head Cameron McLisky said: “BHSI is committed to simplicity and that is evident in these easy-to-navigate policy forms which are readily tailored to the individual needs and exposures of technology firms and backed by BHSI’s financial strength.
“We take a partnership approach to this market, with our brokers and customers collaborating with our decision makers, from underwriting, to claims service.”
Last December, the company introduced commercial crime insurance in Asia, a new policy designed to help companies address their exposure to the changing landscape of fraud.
The Commercial Crime Insurance Policy offers precise contract language for commercial organisations and includes coverage for both traditional employee crime and external crimes such as funds transfer fraud, credit card fraud, forgery and impersonation coverage.
BHSI Asia executive & professional lines head 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.”