Berkshire Hathaway Specialty Launches Crime Protection Policy in Canada

Berkshire Hathaway Specialty Insurance (BHSI) has introduced a crime protection policy along with a new executive impersonation coverage endorsement for large public and private companies in Canada.

“Designed by BHSI executives with more than three decades in the fidelity and crime insurance market, our crime protection policy makes it easy for brokers and customers in Canada to secure broad coverage and address the rising risk of fraud losses,” said Michael Densham, vice president, executive and professional lines, Canada, BHSI. “We are pleased to bring crime coverage to market with significant capacity – limits of $25 million and more – coupled with the financial strength of the Berkshire Hathaway group of insurance companies.”

BHSI’s crime protection policy is underwritten on a discovery basis. The policy’s definition of “employee” automatically includes independent contractors, consultants and others. Client coverage is built into the base form, BHSI said.

The new executive impersonation coverage endorsement expands coverage and provides significant limits to respond to losses arising when a perpetrator impersonates an employee, executive or a business associate of the insured for the purpose of defrauding the insured.

“Both our crime protection policy and impersonation endorsement were created with concise contract language and are supported by a streamlined approach that makes it simple for our customers and brokers to do business with us,” said Brian O’Neill, product line leader, Fidelity and Crime Insurance, U.S. and Canada, BHSI. “Our customers and brokers also have the confidence that comes from BHSI’s team, which has exceptional experience underwriting crime coverage and managing these claims in Canada and around the world.”

Source: Berkshire Hathaway Specialty Insurance

Topics Fraud Excess Surplus New Markets Canada