Berkshire Hathaway GUARD Names Lyle Hitt E.V.P. of Property and Liability Insurance
WILKES-BARRE, PA – Berkshire Hathaway GUARD recently named Lyle Hitt Executive Vice President of Property and Liability Insurance. In his new role, Hitt will oversee activities related to lines of coverage used to complement the company’s traditional workers’ compensation specialty. Specifically, he will lead the expansion of the organization’s property and liability lines into new states; refine existing products to address the needs of an even wider audience of commercial accounts; and develop new products. Hitt brings over a quarter century of experience in the insurance industry to his new role. As an executive at Arch Insurance Group, he most recently oversaw the insurer’s Professional Liability Division, Corporate Training, and Travel Insurance Division. Hitt also held executive positions at Zurich North America. Berkshire Hathaway GUARD began diversifying into other lines of insurance in 2008 with the introduction of a new multi-line BizGUARD Plus product that features businessowner’s, commercial umbrella, and commercial auto policies. As President and CEO Sy Foguel explains, “Within about two years, our BizGUARD Plus product will, like our workers’ compensation policies, be available in all states. Our long-term goal is to be a One-Stop Insurance Shop for commercial accounts; Lyle Hitt’s leadership and years of experience building and managing business units will help us achieve our objectives.” Hitt notes that he is joining the organization at an exciting time. “The chance to help a company evolve into a national, multi-line player is a special one that does not come your way every day, and becoming part of the Berkshire Hathaway family is a bonus. The Berkshire Hathaway brand will benefit us greatly as we introduce our products in many new states. Due to my background, we also plan to introduce professional liability products which will be a nice complement to BizGUARD Plus. In October of 2012, GUARD Insurance Group was acquired by National Indemnity Company, which is a wholly owned subsidiary of Berkshire Hathaway – an international holding company with diverse interests that include insurance and reinsurance. In 2013, GUARD unveiled a new identity as Berkshire Hathaway GUARD Insurance Companies. Each of the organization’s carriers (AmGUARD, EastGUARD, NorGUARD, and WestGUARD) are rated A+ (“Superior”) by A.M. Best – a leading source of independent rating information on the insurance industry. Agents interested in learning more can contact the company on-line at www.guard.com/apply.