Berkshire Hathaway Specialty Insurance Company Launches Financial Institution Professional Indemnity Insurance in Asia
December 12 2017 - 07:30PM
Business Wire
Berkshire Hathaway Specialty Insurance Company (BHSI) today
announced that it has introduced Professional First Financial
Institution Professional Indemnity (FIPI) Insurance in Asia.
“Financial institutions are seeing an increase in both the
frequency and severity of professional indemnity claims.” said
Scotland Walsh-Riddle, Head of Executive & Professional Lines
at BHSI Hong Kong. “To respond to their needs, we’re introducing
comprehensive and customizable protection to address the exposures
FI professionals face now.”
The new BHSI policy is designed to cover a range of claims, from
allegations of failure to disclose information, to misleading
financial advice and breach of contracts. It combines coverage for
civil liability, pre-investigations, mitigation expenses, bail bond
costs, court attendance, loss of documents, and more.
“Financial institutions deliver diverse services to their
customers,” said Edwin Sim, Assistant Vice President of Executive
& Professional Lines at BHSI Singapore. “Hence, we have set out
to provide them with the peace of mind that comes with broad FIPI
coverage. Through clearly articulated wording, BHSI Asia’s FIPI
insurance policy will provide our customers with the security of
coverage backed by unmatched financial strength.”
The policy is designed for medium to large financial
institutions, including securities dealers, regional banks,
insurance companies, reinsurance companies, diversified
institutions, and financial technology (FinTech) and corporate
advisory firms.
For more information on BHSI’s FIPI insurance, contact Scotland
Walsh-Riddle in Hong Kong at +852 3729
1360/Scotland.Walsh-Riddle@bhspecialty.com or Edwin Sim in
Singapore at +65 6675 1508 /Edwin.Sim@bhspecialty.com.
Berkshire Hathaway Specialty Insurance (www.bhspecialty.com)
provides commercial property, casualty, healthcare professional
liability, executive and professional lines, surety, travel,
programs, medical stop loss, and homeowners insurance. The actual
and final terms of coverage for all product lines may vary. In
Asia, it underwrites on the paper of Berkshire Hathaway Specialty
Insurance Company, which holds financial strength ratings of A++
from AM Best and AA+ from Standard & Poor’s. Based in Boston,
Berkshire Hathaway Specialty Insurance has offices in Atlanta,
Asheville, Boston, Chicago, Houston, Irvine, Los Angeles, New York,
San Francisco, San Ramon, Seattle, Stevens Point, Auckland,
Brisbane, Düsseldorf, Hong Kong, Kuala Lumpur, Macau, Melbourne,
Singapore, Sydney and Toronto.
For more information, contact info@bhspecialty.com.
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Berkshire Hathaway Specialty InsuranceJoAnn Lee, +1
617-936-2937