BOSTON, Dec 13 (Bernama-BUSINESS WIRE) -- Berkshire Hathaway Specialty Insurance Company (BHSI) today announced that it has introduced Professional First Financial Institution Professional Indemnity (FIPI) Insurance in Asia.

“Financial institutions are seeing an increase in both the frequency and severity of professional indemnity claims.” said Scotland Walsh-Riddle, Head of Executive & Professional Lines at BHSI Hong Kong. “To respond to their needs, we’re introducing comprehensive and customizable protection to address the exposures FI professionals face now.”

The new BHSI policy is designed to cover a range of claims, from allegations of failure to disclose information, to misleading financial advice and breach of contracts. It combines coverage for civil liability, pre-investigations, mitigation expenses, bail bond costs, court attendance, loss of documents, and more.

“Financial institutions deliver diverse services to their customers,” said Edwin Sim, Assistant Vice President of Executive & Professional Lines at BHSI Singapore. “Hence, we have set out to provide them with the peace of mind that comes with broad FIPI coverage. Through clearly articulated wording, BHSI Asia’s FIPI insurance policy will provide our customers with the security of coverage backed by unmatched financial strength.”

The policy is designed for medium to large financial institutions, including securities dealers, regional banks, insurance companies, reinsurance companies, diversified institutions, and financial technology (FinTech) and corporate advisory firms.

For more information on BHSI’s FIPI insurance, contact Scotland Walsh-Riddle in Hong Kong at +852 3729 1360/Scotland.Walsh-Riddle@bhspecialty.com or Edwin Sim in Singapore at +65 6675 1508 /Edwin.Sim@bhspecialty.com.

Berkshire Hathaway Specialty Insurance (www.bhspecialty.com) provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs, medical stop loss, and homeowners insurance. The actual and final terms of coverage for all product lines may vary. In Asia, 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, Asheville, Boston, Chicago, Houston, Irvine, Los Angeles, New York, San Francisco, San Ramon, Seattle, Stevens Point, Auckland, Brisbane, Düsseldorf, Hong Kong, Kuala Lumpur, Macau, Melbourne, Singapore, Sydney and Toronto.

For more information, contact info@bhspecialty.com.

Contacts
Berkshire Hathaway Specialty Insurance
JoAnn Lee, +1 617-936-2937

Source: Berkshire Hathaway Specialty Insurance
 
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--BERNAMA