US-based Berkshire Hathaway Specialty Insurance (BHSI) has introduced new Executive First Fiduciary Liability Insurance.

The new policy offers protection to the fiduciary liability exposures executives and companies, which are connected with oversight of their organization’s employee benefit plans.

BHSI executive and professional lines senior vice-president Dan Fortin said the new policy addresses the most current regulatory, litigation, and pension and welfare issues facing by the large commercial and financial companies.

"Its state-of-the-market design is the work product of BHSI’s deep bench of underwriting and claims talent, led by Rhonda Prussack, Carrie O’Neil and Todd Greeley," Fortin added.

The policy features a flexible defense agreement, which provides policyholders the freedom to select who they want to drive their defense.

In addition, the policy offers full settler coverage for litigation, arising from different business decisions made on employee benefit plans, and extends affordable care act gap coverage for no additional premium.

BHSI offers commercial property, casualty, healthcare professional liability, executive and professional lines insurance and programs for customers across the US, and has regional underwriting offices in Atlanta, Chicago, Los Angeles and New York.