A company backed by billionaire Warren Buffett is planning to boost construction insurance capacity in the UK.
Berkshire Hathaway Specialty Insurance (BHSI) has announced it is expanding into the construction and property markets in the UK and Ireland.
Contractors are facing another round of premium hikes this year as the market continues to tighten for cover.
BHSI has appointed Simeon Seamer as its new Head of Property Construction, UK and Ireland.
Chris Colahan, Head of UK and Europe, BHSI said: “With the current uncertainty surrounding available capacity for the construction industry in London, BHSI is pleased to provide a stable, reliable solution.
“We enter the property construction market with substantial capacity backed by stellar financial strength, BHSI’s long-view market commitment, and the expertise of Simeon to lead our growing team.”
Seamer joins BHSI after nearly two decades in the construction insurance and reinsurance industry.
He was most recently EMEA Head of Construction & Senior Underwriter at SCOR Global P&C.
Prior to that he was Senior Construction Underwriter at Zurich Global Corporate UK. He began his insurance career as a London Market broker specializing in construction.
In addition to property construction, BHSI in the UK and Ireland also offers a wide range of insurance products for the construction industry including Contractors’ All Risks, liability and professional indemnity coverage.
from Construction Enquirer http://www.constructionenquirer.com/2019/01/17/billionaire-warren-buffett-targets-uk-construction-insurance/
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