Berkshire Hathaway Specialty Insurance Company Launches Professional First Asset Management Liability Policy in Asia

BOSTON--(BUSINESS WIRE)--Berkshire Hathaway Specialty Insurance Company (BHSI) today introduced Professional First^TM Asset Management Liability Insurance, which provides comprehensive and clearly worded professional liability, directors & officers liability, employment practices liability and crime coverage for mutual funds, alternative funds and asset managers in Asia.

"Volatile investment markets coupled with increased regulatory oversight and operational exposures have left asset managers throughout Asia more vulnerable to claims than ever,” said Marcus Portbury, Senior Vice President, Regional Head of Third Party Lines for BHSI in Asia. “Our Professional First Asset Management Liability Insurance provides the comprehensive coverage these professionals need in a highly customizable form, backed by the balance sheet and claims handling expertise of BHSI.”

Asset managers can pick and choose coverage combinations and limits to suit their needs. Coverage encompasses a variety of professional services provided by asset managers and can be tailored for investment structures and vehicles across all investment classes and geographic locations. Coverage for costs incurred to proactively mitigate claims or potential claims is built into the policy. In addition, the Asset Management Liability policy automatically extends coverage to new funds the insured creates or acquires during the policy period (with no restriction on asset or fund size) and to new subsidiaries the insured creates or acquires during the policy period (within a generous asset threshold).

Asset Management Liability Insurance is the newest addition to BHSI’s Professional First suite of professional liability products, all of which are designed to provide clear, current and customizable coverage in connection with professional services rendered by financial and commercial firms.

For more information, contact Scotland Walsh-Riddle in Hong Kong at [phone], [e-mail] Or Emily Poh in Singapore at [phone], [e-mail]

Berkshire Hathaway Specialty Insurance (www.bhspecialty.com) provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs, 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, Boston, Chicago, Fort Lauderdale, Houston, Los Angeles, New York, San Francisco, San Ramon, Stevens Point, Auckland, Brisbane, Hong Kong, Melbourne, Singapore, Sydney and Toronto. For more information, contact [e-mail].