US-based Berkshire Hathaway Specialty Insurance Company (BHSI) two new insurance policies including Executive First Directors & Officers (D&O) Liability and Professional First Professional Indemnity Insurance policies in Asia.
The D&O policy is tailored for commercial and financial firms where coverage is provided to companies, directors, officers and executives who are going through securities litigation and regulatory investigations.
BHSI is also offering Side A protection to individual directors and officers which will help protect the decision makers from lawsuits when they are already providing broad indemnification for damages and defense through the corporate bylaws.
The Professional First Professional Indemnity Insurance is designed to protect professional services firms.
The policy can be extended to independent contractors and consultants and to automatically restore exhausted limits.
The claims can go up to US$100m in capacity under the newly launched insurance policy in Asia.
BHSI Asia president Marc Breuil said: "With the launch of these two primary policies, we look forward to bringing BHSI’s exceptional local executive and professional lines expertise and customer-centric underwriting across Asia.
"Our customers and brokers can look forward to new products coming soon — all backed by BHSI’s financial strength."