Berkshire Hathaway Specialty Insurance (BHSI) today announced that it is introducing the Crime Protection Policy and the Executive Impersonation Coverage endorsement for large public and private companies in Canada.
"Designed by BHSI executives with more than three decades in the fidelity and crime insurance market, our Crime Protection Policy makes it easy for brokers and customers in Canada to secure broad coverage and address the rising risk of fraud losses," said Michael Densham, Vice President, Executive and Professional Lines, Canada, BHSI.
"We are pleased to bring crime coverage to market with significant capacity — limits of $25m and more – coupled with the financial strength of the Berkshire Hathaway group of insurance companies."
BHSI’s Crime Protection Policy is underwritten on a discovery basis. The policy’s definition of "employee" automatically includes independent contractors, consultants and others. Client coverage is built into the base form.
The new Executive Impersonation Coverage endorsement expands coverage and provides significant limits to respond to losses arising when a perpetrator impersonates an employee, executive or a business associate of the insured for the purpose of defrauding the insured.
"Both our Crime Protection Policy and Impersonation endorsement were created with concise contract language and are supported by a streamlined approach that makes it simple for our customers and brokers to do business with us," said Brian O’Neill, Product Line Leader, Fidelity and Crime Insurance, US and Canada, BHSI.
Berkshire Hathaway Specialty Insurance provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs, and homeowners insurance.