Berkshire Hathaway GUARD Adding Commercial Package Coverage
Berkshire Hathaway GUARD Insurance Companies is adding a Commercial Package product that will include coverages for Property, General Liability, Umbrella, and Employment-Related Practices Liability Insurance (EPLI). According to GUARD CEO Sy Foguel, “An early April Pennsylvania launch is anticipated with other states to follow. Our goal is to become a ‘One Stop Shop’ for our agents and their insureds, so we continue to expand our portfolio to supply our network of independent agents with quality products that enable them to grow.”
Executive Vice President Lyle Hitt explains that this new package product has been designed to complement the company’s current Businessowner’s Policy by “addressing the insurance needs of larger, more complex operations or businesses with multiple exposures.” Hitt also notes that “our initial target markets include light-to-medium manufacturing, wholesalers and distributors, truck stops/travel plazas, resorts, and country clubs, and we will eventually expand into new markets.”
According to Vice President of Commercial Package Ellen Hauser, “GUARD’s coverages are unique and built with a wide range of add-ons and industry-specific endorsements. We take a customized approach to expanding the limits and scope of traditional property and casualty insurance.”
GUARD’s Assistant Vice President of Marketing Elizabeth Hartman says, “We can provide a great service to agents.Our product is competitively priced with discounts available when two or more lines are purchased as well as additional discounts based on unique business characteristics.”
Berkshire Hathaway GUARD Insurance Companies Commercial Package will include: Commercial Property coverage with built-in equipment breakdown, Inland marine, and Crime coverage; General Liability with base limits of $1 million to $6 million with even higher limits considered; Employment-Related Practices Liability Insurance (EPLI); and Commercial Umbrella for added protection.
In October of 2012, GUARD was acquired by Berkshire Hathaway Inc. – an international holding company with diverse interests that include insurance and reinsurance. In 2013, GUARD unveiled a new identity as Berkshire Hathaway GUARD Insurance Companies.
GUARD offers a national footprint with a growing list of insurance products, including: Workers’ Compensation, property/liability via a Businessowner’s Policy, Commercial Auto, Umbrella, Professional Liability, Disability, and Homeowners. Each of the organization’s insurance companies is rated A+ (“Superior”) by A.M. Best – a leading source of independent rating information on the insurance industry.
