Risks are becoming more complex, and the world is getting more interconnected every day. Organizations that face particularly large challenges in managing property and liability risks amid these trends are multinational corporations. Whether these entities do business in two countries or 200, multinationals require a coordinated approach from their insurance partners and risk advisors. At Berkshire Hathaway Specialty Insurance, we have a dedicated team for multinational customers. This team assists underwriters in focusing on multinationals' risks. We also do not make unilateral decisions about coverage. We seek the input of other, local underwriting teammates involved in the multinational program. This flexible approach enables team members to share informed perspectives that ultimately results in the best solutions for customers' multinational risks. David Valzania is Senior Vice President, Head of Multinational, at Berkshire Hathaway Specialty Insurance.
When it comes to underwriting risks and handling claims, insurers serving multinationals can't simply stretch domestic processes to fit programs that span multiple countries. If that worked, every insurer could offer true multinational solutions. The fact is, only a handful of insurers have the expertise, resources and financial strength to meet the complex needs of multinationals. Here are some characteristics that brokers and risk professionals should look for when choosing an insurance partner in multinational risk:
When it comes to claims, Berkshire Hathaway Specialty was founded on the principle that "CLAIMS IS OUR PRODUCT®." In the context of multinational claims, we closely review a great number of the programs we create. This is not so much a claims audit as an opportunity to gain clarity on differences and what our underwriters intended and what we expect to deliver. We monitor claims centrally, and we're highly engaged on claims activity for multinationals — and all our customers.
Berkshire Hathaway Specialty Insurance (www.bhspecialty.com) provides commercial property, casualty, healthcare professional liability, executive and professional lines, transactional liability, surety, marine, travel, programs, accident and health, medical stop loss, homeowners, and multinational insurance. It underwrites on the paper of Berkshire Hathaway's National Indemnity Group of insurance companies, which hold financial strength ratings of A++ from AM Best and AA+ from Standard & Poor's. Based in Boston, Berkshire Hathaway Specialty Insurance has offices in Atlanta, Boston, Chicago, Houston, Indianapolis, Irvine, Los Angeles, New York, San Francisco, San Ramon, Seattle, Stevens Point, Adelaide, Auckland, Brisbane, Cologne, Dubai, Dublin, Hong Kong, Kuala Lumpur, London, Macau, Madrid, Manchester, Melbourne, Munich, Paris, Perth, Singapore, Sydney and Toronto.
The information contained herein is for general informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any product or service. Any description set forth herein does not include all policy terms, conditions and exclusions. Please refer to the actual policy for complete details of coverage and exclusions.
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