BHSI unveils crime product in Canada
Berkshire Hathaway Specialty Insurance (BHSI) has launched a crime product in Canada, aimed at addressing the increasing risk of fraud losses.
The product, which consists of a crime protection policy and the executive impersonation coverage endorsement, is available for large public and private companies in Canada.
The crime protection policy’s definition of ‘employee’ automatically includes independent contractors, consultants and others, with client coverage built into the base form.
The executive impersonation coverage endorsement provides limits to respond to losses arising when a perpetrator impersonates an employee, executive or a business associate of the insured for the purpose of defrauding the insured.
Michael Densham, vice president, executive and professional lines, Canada, BHSI, said: "Designed by BHSI executives with more than three decades in the fidelity and crime insurance market, our crime protection policy makes it easy for brokers and customers in Canada to secure broad coverage and address the rising risk of fraud losses.
”We are pleased to bring crime coverage to market with significant capacity -- limits of $25 million and more – coupled with the financial strength of the Berkshire Hathaway group of insurance companies.”
Brian O'Neill, product line leader, fidelity and crime insurance, US and Canada, BHSI, added: "Both our crime protection policy and impersonation endorsement were created with concise contract language and are supported by a streamlined approach that makes it simple for our customers and brokers to do business with us.
“Our customers and brokers also have the confidence that comes from BHSI’s team, which has exceptional experience underwriting crime coverage and managing these claims in Canada and around the world.”
