(Bloomberg) — Berkshire Hathaway Inc.'s specialty insurance business, created last year to expand into new niches, said its latest push is into backing construction projects.
Geoff Delisio, 47, was hired from Zurich Insurance Group AG as a senior vice president for surety, Berkshire Hathaway Specialty Insurance said in a statement today. He'll be based in Boston and report to Executive Vice President David Bresnahan. Surety insurers can provide guarantees to make sure that construction and industrial projects are completed.
Warren Buffett, head of the Omaha, Nebraska-based parent company, hired Peter Eastwood from American International Group Inc. last year to start the specialty insurer. The operation said last month it would start providing travel protection to guard against risks such as lost luggage and flight delays. It already provides casualty coverage for construction clients.
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