Tag Archives: insurance industry

Berkshire Hathaway Special Insurance Names Leader of National Product Line for the UK, Opens New Office in Manchester | Business | Instant News


BOSTON & LONDON & MANCHESTER, UK – (BUSINESS AREA) – 21 Jul 2020–

Berkshire Hathaway Special Insurance (BHSI) today announced that it has appointed Irfan Esa as the British National Property Manager, Gemma McKenzie, as the British National Accident Manager, and James Burke as the British National Executive & Professional Line Manager. The three will be based in the newly established BHSI office in Manchester.

“We are pleased to be able to expand our capabilities in the UK, installing leadership of star products and foundations to continue to grow our team in our new office in Manchester,” said Chris Colahan, Head of UK & Europe, BHSI. “With this leadership team, coupled with Mark Walker, Head of Customer Engagement & Brokerage for the UK, we hope to expand our local market relationships – and spread a clear BHSI underwriting, customer-focused and CLAIM IS OUR PRODUCT philosophy to customers throughout the UK . “

Irfan, who can be contacted at [email protected], present at BHSI with more than 17 years experience in technical property guarantees in the UK. Gemma, who can be contacted at [email protected], bringing more than 20 years of accident insurance experience in the UK to his role at BHSI. James, who can be reached at [email protected], has 16 years of industry experience covering all financial lines in the UK.

BHSI in Manchester initially provided property, casualties and executive & professional channels with a large account focus in the region. In collaboration with a special team at the BHSI London office, the new Manchester office will also offer a full spectrum of additional coverage in the UK, including marine liability, transactional liability, construction, and life science coverage.

In Europe, Berkshire Hathaway Specialty Insurance (BHSI) trades under the Berkshire Hathaway European Insurance DAC (BHEI) and Berkshire Hathaway International Insurance Limited (BHIIL). BHEI, is a Company Designated Activity Activities Ireland, Registration Number 636883 and Registered Office at One Grant’s Row, Dublin D02 HX96. BHEI is an affiliate of Berkshire Hathaway Specialty Insurance Company (BHSIC), a company domiciled in Nebraska USA, which provides commercial, marine, victims property, health professional liability, executive and professional lines, insurance, travel, programs, accidents and health, termination medical insurance and homeowners, and is a subsidiary of Berkshire Hathaway International Insurance Limited (BHIIL), a UK and Wales limited liability company, Registration Number 3230337 and Registered Office at 8 Fenchurch Place, 4th Floor, London EC3M 4AJ, England. BHSIC, BHIIL and BHEI are part of the national insurance group Berkshire Hathaway, which holds the A ++ financial strength rating from AM Best and AA + from Standard & Poor’s. Based in Boston, BHSI has offices in Atlanta, Boston, Chicago, Houston, Indianapolis, Irvine, Los Angeles, New York, San Francisco, San Ramon, Seattle, Stevens Point, Adelaide, Auckland, Brisbane, Cologne, Dubai, Dublin, Hong Kong, Kuala Lumpur, London, Macau, Madrid, Melbourne, Munich, Paris, Perth, Singapore, Sydney and Toronto.

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CONTACT: MEDIA

JoAnn Lee / +1 617-936-2937

KEY WORDS: NORTH AMERICA MASSES IN THE UNITED STATES OF EUROPEAN UNITED STATES, EUROPEAN UNITED STATES

KEYWORDS OF INDUSTRY: INSURANCE PROFESSIONAL SERVICES

SOURCE: Berkshire Hathaway Special Insurance

Copyright Business Wire 2020.

PUB: 07/21/2020 05:00 AM / DISC: 07/21/2020 05:01 AM

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Name of Special Insurance Berkshire Hathaway Name Dr. Frank Amandi Head of Financial Institutions in Germany | National | Instant News


BOSTON & COLOGNE, Germany – (BUSINESS AREA) – 20 Jul 2020–

Berkshire Hathaway Special Insurance (BHSI) today announced that it has appointed Dr. Frank Amandi as Head of Financial Institutions, for Executive and Professional Lines in Germany.

“We are pleased that Frank is leading our efforts to bring our robust financial solutions to financial institutions throughout Germany. His expertise and deep dedication to helping institutions overcome the challenges of dynamic risk will serve our customers well, “said Andreas Krause, Country Manager, Germany, BHSI.

Frank has more than 20 years of experience in the field of international insurance, underwriting, claims and product development. He was recently the Deputy Head of Global Financial Institutions at Allianz Global Corporate & Specialty SE in Germany. Before that, he spent 10 years at the Chubb Insurance Company of Europe SE, Dusseldorf. He holds a law degree from the University of Cologne.

BHSI offers a complete range of financial product lines for financial institutions in Germany, including Director & Officer Responsibilities, D&C Side, Commercial Crime, Fiduciary Responsibility, Fidelity Bonds, Financial Errors & Negligence, Financial Errors & Negligence, Responsibility for Employment Practices and Liability Insurance Professional.

Frank will be based at the BHSI office in Cologne and can be contacted at +49 221 4555 1918 or by email at [email protected]

In Europe, Berkshire Hathaway Specialty Insurance (BHSI) trades under the Berkshire Hathaway European Insurance DAC (BHEI) and Berkshire Hathaway International Insurance Limited (BHIIL). BHEI, is a Company Designated Activity Activities Ireland, Registration Number 636883 and Registered Office at One Grant’s Row, Dublin D02 HX96. BHEI is an affiliate of Berkshire Hathaway Specialty Insurance Company (BHSIC), a company domiciled in Nebraska USA, which provides commercial, marine, victims property, health professional liability, executive and professional lines, insurance, travel, programs, accidents and health, termination medical insurance and homeowners, and is a subsidiary of Berkshire Hathaway International Insurance Limited (BHIIL), a UK and Wales limited liability company, Registration Number 3230337 and Registered Office at 8 Fenchurch Place, 4th Floor, London EC3M 4AJ, England. BHSIC, BHIIL and BHEI are part of the national insurance group Berkshire Hathaway, which holds the A ++ financial strength rating from AM Best and AA + from Standard & Poor’s. Based in Boston, BHSI has offices in Atlanta, Boston, Chicago, Houston, Indianapolis, Irvine, Los Angeles, New York, San Francisco, San Ramon, Seattle, Stevens Point, Adelaide, Auckland, Brisbane, Cologne, Dubai, Dublin, Hong Kong, Kuala Lumpur, London, Macau, Madrid, Melbourne, Munich, Paris, Perth, Singapore, Sydney and Toronto.

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JoAnn Lee / +1 617-936-2937

KEY WORDS: MASSACHUSETTS NORTH AMERICA UNITED STATES UNITED STATES GERMANY CANADA

KEYWORDS OF INDUSTRY: INSURANCE PROFESSIONAL SERVICES

SOURCE: Berkshire Hathaway Special Insurance

Copyright Business Wire 2020.

PUB: 07/20/2020 05:00 AM / DISC: 07/20/2020 05:01 AM

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Pandemic explained the gap in travel insurance coverage | Instant News



NORFOLK, Va. –
For many people, travel insurance is nothing more than a box that appears on the booking site to offer peace of mind.
But limited coverage has been brought to the real aid during the coronavirus pandemic, leaving prospective travelers frustrated over claims being denied for hundreds – if not thousands – of dollars.
Airplane tickets, vacation homes, and other tours will be opened even though some say they may not reach their destination because ski resorts are closed, beaches are closed and the governor is urging everyone to stay at home.
Ed Svec, 67, said he was surprised when his insurance company rejected his claim to rent a $ 5,100 condo in Colorado which he had ordered for a ski trip in late March but had to be canceled because the resort was closed.
“I was advised by the governor that people in my age group should stay away from the area,” said Svec, who lives outside Cleveland. “But then a decision is made for us.”
Basic travel insurance policies generally do not cover a pandemic or fear of illness. And plans often have very specific reasons for cancellations, such as job losses or terrorist attacks.
Although the language of policy is not new, many who buy packages assume that virus-related cancellations have been included. Others complained that the policy was difficult to understand.
“The contract is like a 10-page small print, and I’m not a lawyer,” said Svec, who retired as account manager for multinational companies.
Last month, Illinois Congressman King Krishnamoorthi raised concerns about rejected claims, warning that “companies should not profit from this crisis.”
Krishnamoorthi has asked three travel insurance companies to issue virus-related claim information to the U.S. Home Subcommittee. regarding Economic and Consumer Policy, which he leads.
“Evidence shows consumers are buying standard travel insurance products, thinking they will be covered if they cancel their trip because of coronavirus,” the congressman said in a statement last month. “However, companies such as Allianz, Travel Guard and Generali have refused to cover the claim.”
Krishnamoorthi said in a statement on Friday that the company had refused to provide information, adding that “principals who don’t have anything to hide rarely ignore this request.”
Travel Guard and Generali did not respond to requests that asked for comments on congress members’ problems.
Allianz spokesman Daniel Durazo said in an e-mail that his insurance plan specifically excludes “losses caused directly or indirectly from an epidemic.”
He said the company had told the House’s subcommittee that it was primarily focused on helping customers during “this unusual and wide-ranging public health crisis.”
Travel insurance may not be a top priority for lawmakers given the pandemic is damaging the economy widely, said Michael McCloskey, a professor at the Fox University of Temple Business School.
Virus exclusion has been part of various insurance plans since the SARS epidemic. Government regulators – mostly at the state level – have consciously agreed to such exemptions for years.
“If you make the insurance company cover the pandemic, they will all go bankrupt or the premium will skyrocket,” McCloskey said. “Insurance never works when everyone has a claim. It only works when only a few have it, and we all share it. ”
Meanwhile, people who have canceled trips have now bargained with vacation homeowners for refunds or get vouchers for flights they might never take.
Jena Kehoe, 33, from Chicago, bought travel insurance in early March when she booked a flight to Los Angeles with her boyfriend.
“I thought, ‘Well, maybe I should watch out for a virus and we have to cancel it,’ said Kehoe, an editor at a publishing company.
California and Illinois immediately issued home stay orders and the couple had to cancel their end of April holidays. That’s when they find out their travel insurance will not pay $ 300 plane tickets.
Kehoe said that online travel agency Priceline had offered vouchers for return trips that had to be ordered in March 2021. But he said he wasn’t sure he would use them anytime soon. His girlfriend lost his job. He received a salary deduction.
Laura Campbell, 48, from Richmond, Virginia, has rented a beach house on the Outer Banks of North Carolina as “the last thing” to celebrate a canceled high school graduation.
But now he wondered if they could leave because Dare County North Carolina had banned visitors.
Campbell does not know whether the visitor ban will be lifted in mid-June. And the travel insurance company has told him that it won’t cover the $ 4,000 rental fee.
“That doesn’t make sense,” he said. “Nobody asked for this virus.”
The state of North Carolina, however, can save even if the insurance is not. The North Carolina Real Estate Commission has told vacation rental managers that tenants are entitled to a refund if the road is still closed to visitors.
Svec, who had booked a ski trip in Colorado, was finally able to return half of what he paid from the condominium owner.
“At the time, I thought 50% of things were better than 100% nothing,” Svec said.
Nick Masters, a senior research analyst with market research firm IBISWorld, said travel insurance companies might try to “very loosely discuss a pandemic to move forward.”
But he said they would “possibly limit their risk by limiting payments.” He added that such policies also tended to be “quite expensive.” .



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Berkshire Hathaway Special Insurance Expands Offers for UK Financial Institutions, Launches D&O Policy and Civil Liability | Business | Instant News


BOSTON & LONDON – (KAWAT BUSINESS) – Apr 14 2020–

Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has introduced two new policies specifically designed for UK financial institutions: the First Professional Financial Institution Civil Liability Insurance, and the D&O Financial Institution First Liability Insurance.

Both policies clearly articulate broad scope for the exposure of liabilities faced by large financial institutions. In an era where managing risk reputation is very important, both policies also include safeguards to support crisis management and offer broad protection for investigations.

“Executives and professionals throughout Europe face significant liability exposures, and an unstable market for protection. BHSI is happy to provide UK financial institutions with broad coverage, clearly written, supported by financial strength, stability and claims services from BHSI, “said Thomas Dilley, Head of Financial Institutions, BHSI, UK & Ireland.

The First Professional Financial Institution. Civil Liability Insurance includes advanced features such as continuity coverage and explicit guarantees for claims arising from privacy violations. The First Executive D&O Responsibility Insurance includes key features designed to ensure the most reliable coverage for individuals, from automatic restoration of Side A limits, to unlimited discovery periods for executive retirees.

Last year, BHSI introduced the First Professional Asset Management Responsibility Insurance in the UK and Ireland.

In Europe, Berkshire Hathaway Specialty Insurance (BHSI) trades under the Berkshire Hathaway European Insurance DAC (BHEI) and Berkshire Hathaway International Insurance Limited (BHIIL). BHEI is an Irish Designated Company, Registration Number 636883 and Registered Office at One Grant’s Row, Dublin D02 HX96. BHEI is an affiliate of Berkshire Hathaway Specialty Insurance Company (BHSIC), a company domiciled in Nebraska USA, which provides commercial, marine, victims property, health professional liability, executive and professional lines, insurance, travel, programs, accidents and health, termination medical insurance and homeowners, and is a subsidiary of Berkshire Hathaway International Insurance Limited (BHIIL), a UK and Wales limited liability company, Registration Number 3230337 and Registered Office at 8 Fenchurch Place, 4th Floor, London EC3M 4AJ, England. BHSIC, BHIIL and BHEI are part of the national insurance group Berkshire Hathaway, which holds an A ++ financial strength rating from AM Best and AA + from Standard & Poor’s. Based in Boston, BHSI has offices in Atlanta, Boston, Chicago, Houston, Indianapolis, Irvine, Los Angeles, New York, San Francisco, San Ramon, Seattle, Stevens Point, Adelaide, Auckland, Brisbane, Cologne, Dubai, Dublin, Hong Kong, Kuala Lumpur, London, Macau, Madrid, Melbourne, Munich, Paris, Perth, Singapore, Sydney and Toronto.

KEY WORDS: NORTH AMERICA UNITED STATES, IRELAND COMMUNITIES, EUROPE UNITED STATES

INDUSTRY KEYWORDS: FINANCING OF BANKING PROFESSIONAL SERVICE INSURANCE

SOURCE: Berkshire Hathaway Special Insurance

Copyright Business Wire 2020.

PUB: 04/14/2020 05:00 AM / DISC: 04/14/2020 05:01 AM

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Berkshire Hathaway Special Insurance Introduces Management Obligations & Association Liability Policies in New Zealand | Business | Instant News


BOSTON & AUCKLAND, New Zealand – (BUSINESS AREA) – 12 Apr 2020–

The Berkshire Hathaway Special Insurance Company (BHSI) has expanded its Executive & Professional Lines offering in New Zealand by introducing the Association’s Liability Management and Insurance policies.

“The new policy on Management Responsibilities and Obligations of the BHSI Association reflects our commitment to provide broad coverage in simple and concise words to address the risks of diverse management responsibilities from the world today,” said Cameron McLisky, Head of Executive and Professional Lines, Australasia. “They also allow us to provide good solutions to private companies and non-profit organizations that are supported by financial strength and BHSI’s commitment to claims that handle excellence.”

The BHSI Management Obligations Policy is designed to handle a variety of claims that can be faced by private companies. Brokers and Insured can adjust the scope by including the Responsibilities of Directors & Officers, General Responsibilities, Legal Responsibilities, Responsibilities of Employers, Responsibilities for Labor Practices and / or Fidelity Insurance.

The Liability Association policy offers non-profit organizations the same flexibility and coverage tailored to their needs, with additional Professional Compensation protection.

To learn more, contact Andriu Sucu at +64 9 301 3933 or by email at [email protected].

Berkshire Hathaway Special Insurance Company (founded in Nebraska, USA) NZ Company No. 5737531, FSP 445946 ( www.bhspecialty.com ) provides commercial property, casualties, executive and professional lines, travel, programs, accidents and health, and marine insurance. Actual and final coverage requirements for all product lines may vary. In New Zealand, this document is borne on paper from the Berkshire Hathaway Special Insurance Company, which holds an A ++ financial strength rating from AM Best and AA + from Standard & Poor’s. Based in Boston, Berkshire Hathaway Specialty Insurance has offices in Atlanta, Boston, Chicago, Houston, Indianapolis, Irvine, Los Angeles, New York, San Francisco, San Ramon, Seattle, Stevens Point, Adelaide, Auckland, Brisbane, Cologne, Dubai, Dublin, Hong Kong, Kuala Lumpur, London, Macau, Madrid, Melbourne, Munich, Paris, Perth, Singapore, Sydney and Toronto.

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JoAnn Lee / +1 617-936-2937

KEY WORDS: NORTH AMERICA UNITED STATES AUSTRALIA / OCEANIA NEW ZEALAND MASSACHUSETTS CANADA

KEYWORDS OF INDUSTRY: INSURANCE PROFESSIONAL SERVICES

SOURCE: Berkshire Hathaway Special Insurance Company

Copyright Business Wire 2020.

PUB: 12/04/2020 06:00 PM / DISC: 12/12/2020 06:00 PM

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