Berkshire Hathaway Specialty Insurance Company (BHSI) has launched Executive First Private Company Portfolio and Executive First Nonprofit Organisation Portfolio policies in Asia.
BHSI in Hong Kong executive & professional lines senior manager Nero Shiu said: “Our Private Company and Nonprofit Organisation Portfolio forms provide far-reaching, contemporary coverage backed by BHSI’s financial strength.
“Both policies reflect our commitment to providing the simple, concise solutions customers need for multifaceted management liability risks in today’s world.”
The Private Company Portfolio extends coverage to both individuals and the entity and includes Directors & Officers Liability, Employment Practices Liability, and Employee Dishonesty coverages.
The Nonprofit Organisation Portfolio offers similar coverages, with the addition of Professional Indemnity protection to address the specific needs of a nonprofit organisation. Key features include pre-investigations cost coverage, court attendance coverage, and advancement of defence costs. Professional Indemnity protection includes coverage for corrective actions to help nonprofit organisations mitigate potential losses and avoid claims.
BHSI in Singapore executive & professional lines assistant vice president Edwin Sim said: “Our new policies address the full range of claims private companies, nonprofit organisations, and their directors and officers may encounter today — from lawsuits arising from breach of compliance and disclosure requirements, to employee theft, to claims sparked by the acts of employees.”
Source: Company Press Release