Berkshire Hathaway Specialty Insurance (BHSI) is a leading provider of commercial property and casualty insurance solutions. Headquartered in Boston, Massachusetts, BHSI operates as a subsidiary of Berkshire Hathaway Inc., offering a wide range of specialty insurance products designed to meet the unique needs of businesses across various industries. With a commitment to financial strength, underwriting expertise, and exceptional customer service, BHSI provides tailored insurance solutions and risk management services.

Services and Solutions

BHSI provides a comprehensive suite of insurance products and services designed to address the diverse needs of its clients. Key service areas include:

1. Property Insurance: BHSI offers extensive property insurance coverage, including commercial property, real estate, and construction insurance. These products protect against risks such as fire, theft, and natural disasters.
2. Casualty Insurance: The company provides a wide range of casualty insurance products, including general liability, professional liability, and environmental liability insurance. These solutions help businesses manage their liability risks and ensure financial protection.
3. Executive and Professional Lines: BHSI delivers specialized insurance products tailored to the needs of executives and professionals, including directors and officers (D&O) liability, errors and omissions (E&O) liability, and employment practices liability insurance.
4. Healthcare Professional Liability: The company offers healthcare professional liability insurance, protecting healthcare providers from claims of medical malpractice and negligence.
5. Marine Insurance: BHSI provides comprehensive marine insurance solutions, including coverage for cargo, hull, and marine liability, addressing the unique risks associated with maritime operations.
6. Surety Bonds: The company offers surety bonds, including contract surety, commercial surety, and court bonds, ensuring compliance with contractual and legal obligations.

Actuarial Opportunities

BHSI offers a range of opportunities for actuaries, particularly within its underwriting, risk management, and product development divisions. Actuaries at BHSI play a critical role in product pricing, risk assessment, and financial forecasting. Key areas where actuaries contribute include:

• Product Pricing: Developing and implementing pricing strategies for various insurance products to ensure competitiveness and financial sustainability.
• Risk Management: Analyzing and managing the risks associated with insurance products to maintain the company's financial strength and stability.
• Data Analysis: Utilizing advanced data analytics to predict trends, improve decision-making, and enhance product offerings.
• Financial Forecasting: Creating financial models to project future costs, revenues, and profitability for insurance products.
• Regulatory Compliance: Ensuring that insurance products comply with state and federal regulations.

Employee Benefits and Compensation

BHSI is committed to attracting and retaining top actuarial talent by offering competitive compensation and a comprehensive benefits package. Key benefits include:

• Health and Wellness: BHSI provides comprehensive health insurance plans, including medical, dental, and vision coverage. The company also offers wellness programs and resources to support employee health and well-being.
• Retirement and Savings: Employees have access to retirement savings plans, including a 401(k) plan with company match, to help secure their financial future.
• Work-Life Balance: BHSI supports flexible work arrangements, including remote work options and flexible scheduling, to help employees achieve a healthy work-life balance.
• Professional Development: The company invests in employee growth through various learning and development programs, including tuition assistance, leadership training, and career advancement opportunities.
• Paid Time Off: Generous paid time off policies, including vacation, holidays, and personal leave, are provided to ensure employees can recharge and maintain a healthy work-life balance.

Business Divisions

BHSI operates through several key business divisions, each specializing in different areas of insurance and risk management:

• Property Insurance: Focuses on providing comprehensive property insurance solutions, including coverage for commercial properties, real estate, and construction projects.
• Casualty Insurance: Offers a wide range of casualty insurance products, including general liability, professional liability, and environmental liability insurance.
• Executive and Professional Lines: Provides specialized insurance products for executives and professionals, including D&O liability, E&O liability, and employment practices liability insurance.
• Healthcare Professional Liability: Delivers healthcare professional liability insurance to protect healthcare providers from claims of medical malpractice and negligence.
• Marine Insurance: Offers comprehensive marine insurance solutions, including coverage for cargo, hull, and marine liability.
• Surety Bonds: Provides surety bonds, including contract surety, commercial surety, and court bonds, to ensure compliance with contractual and legal obligations.

Summary

Berkshire Hathaway Specialty Insurance (BHSI) is a global leader in providing innovative insurance and risk management solutions, dedicated to helping businesses manage complex risks and unique exposures. With a strong presence in the United States and worldwide, BHSI offers comprehensive insurance products and a supportive work environment, making it an attractive employer for actuaries and other insurance professionals. Actuarial professionals looking for opportunities at BHSI can expect to find a dynamic workplace that values innovation, professional development, and employee well-being.

‍