Berkshire Hathaway Specialty Insurance (BHSI) has introduced an asset management liability policy for the Asian marketplace.
Professional First™ Asset Management Liability Insurance will offer comprehensive professional liability, directors & officers’ liability, employment practices liability, and crime coverage for mutual funds, alternative funds and asset managers.
“Volatile investment markets coupled with increased regulatory oversight and operational exposures have left asset managers throughout Asia more vulnerable to claims than ever,” said Senior Vice President and Regional Head of Third Party Lines for BHSI in Asia Marcus Portbury. “Our Professional First Asset Management Liability Insurance provides the comprehensive coverage these professionals need in a highly customizable form, backed by the balance sheet and claims handling expertise of BHSI.”
With Professional First, asset managers are free to choose coverage combinations and limits that would adequately meet their needs. The policy also automatically extends coverage to new funds the policyholder creates or acquires during the policy period—without restriction on asset or fund size—and to new subsidiaries the insured makes or acquires within the policy period within an asset threshold.
