Berkshire Hathaway announced the creation of its Specialty Insurance Company in June 2013
Boston-based Berkshire Hathaway Specialty Insurance Group is moving into the surety market, with a focus on the contract surety business. The announcement comes exactly a year after Berkshire Hathaway announced the creation of its new company, The Berkshire Hathaway Specialty Insurance Group in June 2013 and headquartered at 60 State Street in Boston. The company also has regional underwriting offices in Atlanta, Chicago, Los Angeles, and New York.
“Our credit quality and willingness to take on significant contracting exposure will get us off to a fast start in the surety marketplace. Along with a strong balance sheet, we bring to the table the trust and integrity long associated with the Berkshire Hathaway brand, values that resonate positively with our customers and brokers,” David said.
According to the company, its new contract surety capabilities will round out its offering for the construction industry by providing specific surety capabilities that will compliment that builder’s risk and construction casualty risk offerings it already has.
BHSI picks former Zurich Executive to head up its Surety Group
In addition to announcing its entrance into the Surety business, Berkshire Hathaway has appointed Geoff Delisio as Senior Vice President, Surety. He will report to David Bresnhan, Executive Vice President, BHSI.
“With Geoff on board, we will be building a multi-disciplinary team of surety underwriting, claims and legal professionals to serve the needs of our construction customers and brokers for the long term,” he added.
Mr. DeLisio arrives at the Berkshire Hathaway Specialty Insurance Group with 13 years of surety experience. He joined BHSI in June from Zurich where he was a Senior Vice President, Surety. Mr. DeLisio is a certified professional engineer who spent ten years before entering the surety business working for a national geo-technical and civil engineering firm.
Based in BHSI’s Boston office, Massachusetts insurance professionals may reach him at email@example.com or 617-936-2966.