BOSTON & HONG KONG & SINGAPORE -- (BUSINESS WIRE) --
Berkshire Hathaway Specialty Insurance Company (BHSI) today announced that it has enhanced its Asia Executive First Directors & Officers (D&O) Liability Insurance to include a market-leading provision that reinstates policy limits exhausted by the entity or by individual insureds.
“Corporate regulatory investigations have become more targeted and aggressive. As enforcement agencies sharpen their focus, we can expect to continue to see deeper and more costly investigations, often involving multiple individuals,” said Patrick Ko, Head of Executive & Professional Lines, BHSI, Hong Kong. “Our automatic reinstatement of limits provision gives insureds confidence that coverage will be there when they need it.”
BHSI’s Asia Executive First D&O Liability policy, which provides clear, simply worded coverage for large commercial organizations and their directors and officers, now includes an automatic reinstatement provision that applies across the board to all of the policy’s insuring clauses, replenishing limits which have been exhausted by the payment of Side A (D&O indemnification), Side B (company reimbursement) or Side C (entity securities claims) losses for future claims.
“In Asia, there is a heightened focus on ensuring that directors and officers are held personally accountable for their actions. This is prompting companies and board members to examine their D&O coverage and carriers more closely,” said Emily Poh, Head of Executive & Professional Lines, BHSI, Singapore. “Our insureds can be confident that, along with expansive coverage, they have a D&O insurer that has the long term commitment and unmatched financial strength to protect not just the corporation, but their personal assets as well.”
BHSI has also added numerous other enhancements to the policy, including coverage for expenses to protect the insured’s reputation and for travel and accommodations required to comply with investigations.
Berkshire Hathaway Specialty Insurance Company, www.bhspecialty.com (incorporated in Nebraska, USA) provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs, accident and health, medical stop loss, and homeowners insurance. The actual and final terms of coverage for all product lines may vary. In the Asia Middle East region, 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, 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, Melbourne, Munich, Paris, Perth, Singapore, Sydney and Toronto.
JoAnn Lee / +1 617.936.2937