Berkshire Hathaway Specialty Insurance’s (BHSI) new contractors plant and equipment policy (CP&E) will offer brokers flexibility for their clients, a leader has said.
Dimitry Zilberud, head of marine at BHSI Australasia, said that the new cover, which was unveiled last week, will give brokers the chance to place multi-line solutions for their clients.
“We have large and broad on-shore authorities backed by experience in this niche area as well as our willingness to find innovative solutions to meet our customer’s needs,” Zilberud told
Insurance Business.
“We are also keen to work with brokers to find solutions that other markets might not be able to in conjunction with other products we offer. Given that we have a full property and casualty suite of products we can look to tailor multi-line approaches incorporating this product.”
Zilberud said that the firm is looking to target earth moving excavation, farming and agriculture and occupations supplementary to mining, road works and construction as the firm can look to place more difficult risks thanks to its market positon.
“This really goes hand in glove with what we already do in other areas,” Zilberud continued.
“We are not encumbered by any reinsurance treaties, [and have] the ability to look at complex and even potentially volatile risks on a case by case basis as well. We don’t have definitive no-goes and that is the beauty of dealing with us.”
Zilberud said that BHSI’s marine expertise across cargo, marine, transitory equipment and the new CP&E cover sees the firm well placed in the market but did not rule out further development.
“Our brokers and customers have responded well to our highly responsive approach to underwriting and claims handling and we look to continue building on this. When there is an opportunity, we will explore it,” Zilberud continued.
“We are constantly thinking about ways to innovate and collaborate with key broker partners to bring solutions to meet the needs of our brokers and customers.”
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