Professional liability insurance for asset managers offered in Asia
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Berkshire Hathaway Specialty Insurance Co. has launched a professional liability policy for asset managers in Asia.
Professional First Asset Management Liability Insurance provides professional liability, directors and officers’ liability, employment practices liability and crime coverage for mutual funds, alternative funds and asset managers in Asia, Boston-based BHSI said Tuesday in a statement.
The limits being offered were not immediately available.
“Volatile investment markets coupled with increased regulatory oversight and operational exposures have left asset managers throughout Asia more vulnerable to claims than ever,” Marcus Portbury, Hong Kong-based senior vice president and regional head of third-party lines for BHSI in Asia, said in the statement. “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.”
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