Berkshire offers executive liability cover for Canadian pension sponsors

Berkshire Hathaway Specialty Insurance on Monday said it has launched a policy to provide coverage for Canadian sponsors of large pension and benefit plans.

Executive First Fiduciary Liability Insurance also is designed for the plans’ directors, officers and employees, Boston-based Berkshire Hathaway Specialty Insurance said in a statement.

The policy covers Canadian fines and penalties and features full settlor coverage with no sublimit.A flexible defense agreement gives policyholders control over their own defense with defense costs advanced, and allows them to tender defense to Berkshire Hathaway Specialty Insurance if they prefer, according to the statement.

“Our Executive First Fiduciary Liability Insurance is built to deliver all the coverage our Canadian customers need in one clear, concise policy,” said Dan Fortin, BHSI’s head of executive and professional lines for the United States and Canada.