BHSI launches Commercial Crime Insurance in Asia

KUALA LUMPUR, Dec 2 -- Berkshire Hathaway Specialty Insurance (BHSI) recently introduced Commercial Crime Insurance Policy in Asia, designed to help companies address the exposures of a changing fraud landscape.

The policy offers concise contract language for commercial organisations and includes coverage for both traditional employee crime and external crimes, such as fund transfer fraud, credit card fraud, forgery and impersonation coverage.

Impersonation coverage responds to losses arising when a perpetrator impersonates an employee, executive or business associate of the insured for the purpose of defrauding the insured.

The policy also includes numerous extensions, including coverage for lost establishment fees an insured incurs, to establish the existence and quantum of a loss.

According to BHSI Asia Head of Executive & Professional Lines, Scotland Walsh-Riddle, corporate fraud is becoming increasingly sophisticated as technology advances at an exponential pace globally.

“Our policy is important protection for a company’s balance sheet by both insuring against losses arising from a wide range of threats and providing support to investigate the cause of a loss.

“The Commercial Crime Policy was crafted with BHSI’s clear and concise underwriting and is backed by our excellent claims handling.”

Berkshire Hathaway Specialty Insurance Company provides commercial property, casualty, healthcare professional liability, executive and professional lines, surety, travel, programmes, accident and health, medical stop loss and homeowners insurance.

-- BERNAMA