The two policies offered by Berkshire Hathaway will support the UK financial institutions from liability exposure
Image: Berkshire Hathaway launches insurance for UK financial institutions. (Credit: Pixabay/PublicDomainPictures.)
Berkshire Hathaway Specialty Insurance (BHSI) has introduced two new policies, Professional First Financial Institutions Civil Liability Insurance, and Executive First Financial Institutions D&O Liability Insurance, for the UK financial institutions.
The two policies have been designed to offer broad coverage for liability exposures faced by large financial institutions.
The policies will also provide coverage to support crisis management and offer expansive coverage for investigations.
The insurance policy also covers claims arising from privacy breaches
Professional First Financial Institutions Civil Liability Insurance is touted to include new market features such as continuity coverage and express coverage for claims that arise from privacy breaches.
Executive First D&O Liability Insurance has key features designed to make sure that reliable coverage is offered for individuals, from automatic reinstatement of Side A limits, to an unlimited discovery period for retired executives.
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.”
A few days ago, the company introduced management liability and association liability insurance policies to expand its executive & professional lines in New Zealand.
The new launches expanded the company’s Executive & Professional Lines products in the country.
Berkshire Hathaway stated that its management liability policy has been designed to address a wide range of claims that private companies can face.
The company had also introduced Professional First Technology Liability Insurance policies in Australia and New Zealand.
The two policies offer broad, customisable professional liability protection to full scope of services provided by technology and tech-related organisations.