UK financial institutions have received a double insurance boost with Berkshire Hathaway Specialty Insurance (BHSI) announcing two new policies for the market.
The first is Professional First Financial Institutions Civil Liability Insurance, which includes features such as continuity coverage and express coverage for claims that arise from privacy breaches. Also launching is Executive First Financial Institutions D&O Liability Insurance, which is designed to cover everything from automatic reinstatement of Side A limits through to an unlimited discovery period for retired executives.
The products, which come after BHSI last year introduced Professional First Asset Management Liability, are meant to articulate broad coverage for liability exposures, according to Thomas Dilley, head of financial institution for BHSI in the UK & Ireland.
“Executives and professionals across Europe face significant liability exposures, and a volatile market for coverage. BHSI is pleased to provide UK financial institutions with the certainty of broad, clearly-written coverage, backed by the financial strength, stability and claims service of BHSI,” he said.
