Specialist insurer Beazley is pleased to announce the launch of a new consortium at Lloyd’s to offer increased capacity for sexual molestation liability (SML) and to expand the limits available to US organizations. This new consortium expands upon Beazley’s longstanding capabilities in underwriting SML risks in the US and Canada since 2006. Building on this… Continue reading Beazley Launches Safeguard Consortium at Lloyd’s, Bringing Additional Capacity for Sexual Molestation Liability Risks
Tag: Beazley
Beazley Designs Transmission Cover for Live Virtual Events
Specialist insurer Beazley has launched a contingency policy designed to cover event organisers if a transmission failure disrupts or cancels a virtual event. Streaming live events is not new in itself, however with social distancing rules in place to reduce the spread of COVID-19, many major events have been either cancelled, postponed or moved online.… Continue reading Beazley Designs Transmission Cover for Live Virtual Events
Bernacki Joins Leadership Team at AmWINS Group
AmWINS Group, Inc. (“AmWINS”), a global distributor of specialty insurance products and services, today announced that Mark R. Bernacki will join the firm as president of AmWINS Special Risk Underwriters (SRU) and executive vice president of AmWINS Group, effective March 30, 2020. In his role, Bernacki will drive strategy and build capacity for SRU, which… Continue reading Bernacki Joins Leadership Team at AmWINS Group
Beazley Makes its Leading Cyber Platform Available to Brokers of SMEs
Beazley announced today that its flagship cyber product, Beazley Breach Response (BBR), will be available to brokers of small and medium-sized business through the myBeazley platform in the US, reducing to less than two minutes the time required to obtain a bindable BBR quote. The platform has been designed to meet the needs of brokers… Continue reading Beazley Makes its Leading Cyber Platform Available to Brokers of SMEs
Beazley Profits Jump Off Investments, Rates Rise 6%
Specialist insurer Beazley has posted a pre-tax profit for 2019 of $267.7 million, up from $76.4 million in 2018, and reported a 6% rate increase. Beazley’s pre-tax profit jump was bolstered by a strong investment return of $263.7 million, up from $41.1 million in 2018. The firm’s combined ratio of 100% – up from 98%… Continue reading Beazley Profits Jump Off Investments, Rates Rise 6%
Beazley and RenaissanceRe Collaborate on Cyber Catastrophe Cover Solution Backed by Capital Markets
Specialist insurer Beazley and global reinsurer RenaissanceRe have jointly launched a new reinsurance product providing Beazley with additional catastrophe cover for cyber events. The majority of the security behind the deal will be provided by capital sources structured by RenaissanceRe. This placing of cyber catastrophe risk into the capital markets opens up a new, larger… Continue reading Beazley and RenaissanceRe Collaborate on Cyber Catastrophe Cover Solution Backed by Capital Markets
Beazley U.S. Hospital Claims Data: Medical Malpractice More Costly; Steep Increase in Largest Claims
The average cost of a medical malpractice claim in the U.S. has increased by 50% since 2009 with a sharp rise in the number of claims of more than $5 million over the last four years, according to Beazley, a leading insurer of hospital professional liability (HPL). These findings have been published in a collaborative… Continue reading Beazley U.S. Hospital Claims Data: Medical Malpractice More Costly; Steep Increase in Largest Claims
Beazley Invests in Hong Kong Coverholder Pegasus
Specialist insurer Beazley is making a strategic investment in Hong Kong-based coverholder, Pegasus Underwriting Limited. The investment will see Beazley become a 30% shareholder in Pegasus. Beazley began working with Pegasus in January 2019 under an arrangement that combined the coverholder’s knowledge of the market and its strong broking relationships with Beazley’s global expertise in… Continue reading Beazley Invests in Hong Kong Coverholder Pegasus
Beazley Launches Suite of Cyber Risk Management Services for International Policyholders
Preparing for and preventing breaches have become inseparable from insuring a cyber loss and organizations must protect themselves on all fronts. In line with specialist insurer Beazley’s commitment to 360° cyber protection, international cyber policyholders will now have access to a full suite of cyber risk management services. Beazley has designed these resources to help… Continue reading Beazley Launches Suite of Cyber Risk Management Services for International Policyholders
Beazley Unveils Streamlined Insurance Policy for Media and Tech Industry
Specialist insurer Beazley has updated its MediaTech insurance policy to keep pace with the rapidly evolving technology market and cyber threat landscape faced by firms as they seek to innovate and grow. Media and technology businesses are at the forefront of developing and applying new tools and systems. They need assurance that they are not… Continue reading Beazley Unveils Streamlined Insurance Policy for Media and Tech Industry