[December 16, 2014]

Berkshire Hathaway Specialty Insurance Unveils Professional First™ Asset Management Liability Policy

Berkshire Hathaway Specialty Insurance (BHSI) today introduced Professional First^™ Asset Management Liability Insurance, which provides clear and customizable errors and omissions (E&O) and directors and officers (D&O) insurance for mutual funds, alternative funds and asset managers.

"Professional First Asset Management Liability Insurance is expansive, simply-stated D&O and E&O coverage, delivered with the financial strength and claims handling expertise of BHSI," said Tom Kocaj, Vice President, Head of Financial Institutions, BHSI. "We are pleased to be able to offer this flexible and far-reaching protection for asset managers."

The policy is easily tailored for various funds and managers, and can be enhanced to include fiduciary liability, employment practices liability and cost of corrections coverage. It includes broad definitions of both "professional services" and "claim," and limited exclusions.

BHSI epects to expand its Professional First^™ line in early 2015, launching professional liability coverages tailor-made for banks and insurance companies.

For more information, contact Adam Fleischner, Assistant Vice President, Executive and Professional Lines, Financial Institutions at 917-960-2412 or [email protected].

The Asset Management Liability Insurance is the newest addition to BHSI's Professional First suite of professional liability products, all of which are designed to provide clear, current and customizable coverage in connection with professional services that financial and commercial firms provide to their customers.

Berkshire Hathaway Specialty Insurance (www.bhspecialty.com) provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programs, and homeowners insurance for customers domestically and internationally. It underwrites on the paper of Berkshire Hathaway's National Indemnity group of insurance companies, which hold financial strength ratings of A++ from AM Best and AA+ from Standard & Poor's. Based in Boston, Berkshire Hathaway Specialty Insurance has regional underwriting offices in Atlanta, Boston, Chicago, Los Angeles, New York, Singapore and Toronto. For more information, contact [email protected].

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