Specialist underwriter TLC Insurance has announced its partnership with Berkshire Hathaway Specialty Insurance (BHSI), which will come into effect on February 01, 2021.
A heavy machinery insurer, TLC Insurance was originally established in 1998 with Lumley as its security before becoming a Lloyd’s coverholder in 2010. Managing director Keith Penny says the market has “changed dramatically” over the past 10 years, and the new partnership is part of TLC’s reassessment of its underwriting platform.
Read more: Five Minutes With…Keith Penny, TLC Insurance
“Berkshire Hathaway Specialty Insurance (BHSI) is a strong and trusted insurance partner,” Penny said.
“They provide a wide range of covers throughout the world, and are delighted to become involved with TLC Insurance and their proven specialist brand within the New Zealand insurance market.”
“We are very confident that this new partnership will stand the test of time, and will greatly assist in overcoming the difficulties and obstacles being experienced by TLC Insurance over recent times,” Penny added.
“The partnership not only brings financial strength, but also supports TLC Insurance’s claims handling values and core underwriting philosophy. The market has changed dramatically over the past 10 years and, as a result, TLC Insurance has needed to reassess its underwriting platform in order to best represent their brokers and clients over the next decade and beyond.”
TLC Insurance has also announced the appointment of Andrew Reid as its General Manager – Insurance. Reid formerly held an underwriting role at Australian specialist underwriter SURA, and Penny says his experience in the niche underwriting market will be a great asset to the team.
Commenting on the new partnership, BHSI country manager Cameron McLisky said: “We are thrilled to announce our partnership with TLC Insurance. Keith and his team have built a great reputation and an exceptional business over the last 20 years, and we are excited to complement that with the unique strengths of BHSI and together bring an even stronger proposition to the market for our brokers and customers.”
