Berkshire Hathaway unit launches professional liability policy
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Workers compensation insurer Berkshire Hathaway Guard Insurance Cos. has launched a miscellaneous professional liability policy in New Jersey with plans to expand into a half dozen more states by the end of 2016.
The policy coverages include up to $10,000 for disciplinary proceedings and $500 per day for loss of earnings due to court appearances, the Berkshire Hathaway Inc. division said Friday in a statement.
Limits start at $100,000 per claim/$100,000 aggregate and can range up to $3 million or higher, according to the statement.
“While we could already write some miscellaneous professional liability under our business owner's policy endorsement, the company's new product is a separate line that can accommodate over 50 classes,” Guard Executive Vice President Lyle Hitt said in the statement.
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