Reinsurance News

Berkshire Hathaway expands services to Illinois

11th September 2020 - Author: Katie Baker

Berkshire Hathaway GUARD Insurance Companies has announced that Illinois has been added to its list of states where it offers a Commercial Package Policy.

berkshire-hathaway-guard-logoThe product includes Commercial Property featuring limits up to $120 million per location. It comes with an enhanced causes of loss form, including built-in equipment breakdown, crime coverages.

It also includes broad inland marine coverages; General Liability with aggregate limits up to $6 million; and Commercial Umbrella for added protection.

Illinois is the fourth state where GUARD’s Commercial Package is available, after rollouts in Pennsylvania and New Jersey in 2019 and Michigan earlier this year.

Berkshire Hathaway GUARD’s Commercial Package product is designed to address the insurance needs of larger, more complex operations with multiple exposures.

The company’s initial target markets include light-to-medium manufacturing, wholesalers and distributors, large offices/habitational buildings, truck stops/travel plazas, resort hotels, and country clubs/golf courses.

The company has suggested that availability will be available in more states in the future.

Sy Foguel, Berkshire Hathaway GUARD CEO commented: “As we continue to expand our portfolio, our goal is to be the preferred insurance carrier our agents turn to for their insureds. We continue to supply our network of independent agents with quality products that enable them to grow. Geared toward larger insureds, our CPP product complements our Business owner’s Policy offering.”

Lyle Hitt, Chief Insurance Officer of Property and Casualty Insurance added: “What sets our Commercial Package apart, among other things, is how we enhance our base coverages with a wide range of add-ons, limit options and access to both proprietary and industry specific endorsements. We take a customised approach to expanding the limits and scope of traditional property and casualty insurance.”

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