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Berkshire Hathaway Specialty Insurance Introduces Professional First Asset Management Liability Insurance in the UK and Ireland

BOSTON & DUBLIN & LONDON--(BUSINESSWIRE)--

Berkshire Hathaway Specialty Insurance (BHSI) has launched Professional First Asset Management Liability Insurance, which provides broad, clearly worded professional liability, directors & officers liability, and crime coverage tailored for investment managers and funds in the UK and Ireland.

“Highly volatile investment and economic markets, coupled with increased regulatory oversight and operational exposures, have made investment managers increasingly vulnerable to claims,” said Tom Dilley, Head of Financial Institutions, BHSI in the UK. “Our Professional First Asset Management Liability policy provides investment managers and funds in the UK and Ireland with comprehensive, customizable protection, backed by marketing-leading financial strength and claims handling expertise.”

The new policy encompasses a variety of professional services and can be tailored to suit different investment structures and investment classes. It provides security for directors and officers for claims arising from wrongful acts in the management of the company or fund, and a dedicated tower of limits for Alternative Investment Fund Managers Directive (AIFMD) related losses. The policy also provides additional limits for non-executive directors, unlimited lifetime cover for retired directors and officers, and comprehensive crime coverage.

BHSI’s Professional First suite of professional liability products is designed to provide clear, current and customizable coverage for the risks of financial and commercial firms. BHSI will be expanding the suite with additional products in the UK and Ireland in 2019.

For more information on BHSI’s Financial Institutions products in the UK and Ireland, contact Tom Dilley at Thomas.dilley@bhspecialty.com or +44 203 429 4921 or Caoimhe Gormley at Caoimhe.gormley@bhspecialty.com or +353 1 246 7231.

In Europe, Berkshire Hathaway Specialty Insurance operates as part of Berkshire Hathaway International Insurance Limited (BHIIL), an incorporated England and Wales limited liability company, Registration Number 3230337 and Registered Office at 8 Fenchurch Place, 4th Floor, London EC3M 4AJ, United Kingdom. BHIIL is an affiliate of Berkshire Hathaway Specialty Insurance Company (BHSIC) (www.bhspecialty.com), which provides commercial property, marine, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs, medical stop loss and homeowners insurance. BHSIC and BHIIL are part of Berkshire Hathaway's National Indemnity group of insurance companies, which hold financial strength ratings of A++ from AM Best and AA+ from Standard & Poor's. Based in Boston, BHSIC has offices in Atlanta, Boston, Chicago, Houston, Indianapolis, Irvine, Los Angeles, New York, San Francisco, San Ramon, Seattle, Stevens Point, Auckland, Brisbane, Dubai, Dublin, Düsseldorf, Hong Kong, Kuala Lumpur, London, Macau, Melbourne, Munich, Perth, Singapore, Sydney and Toronto.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190318005159/en/

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