Just a few months after Warren Buffett announced
Berkshire Hathaway Specialty’s expansion to the Canadian insurance market, the company is introducing Canadian editions of its directors and officers policies.
Executive First Directors & Officers Liability and the Executive First Side A DIC Directors & Officers liability policies are designed to provide customizable coverage for large commercial and financial organizations in Canada.
The Executive First D&O policy addresses risks such as securities class actions, shareholder derivative actions and government investigations. Coverage is available for individual board members and executives who are involved in claims for which the company cannot or will not indemnify them. Capacity of up to $100 million is available.
The Side A DIC D&O policy complements Executive First with a so-called “safety net’ for individual executives involved in D&O claims in which the company cannot indemnify them and in which the underlying D&O policy does not respond, either because limits are exhausted or claims arise from a “difference in conditions” event.
In addition to these two policies, Berkshire Hathaway Specialty also provides follow form excess D&O liability insurance.
The policies are a part of BHSI’s executive liability insurance product suite.
Berkshire Hathaway Specialty Insurance announced its entrance into the Canadian marketplace at the end of January and has is based in Toronto. Its coverages include commercial property, casualty, healthcare, professional liability, executive and professional lines, surety, travel, programs and homeowners insurance.
