Reinsurance News

Beazley names Praesidium as provider for Safeguard policyholders

5th March 2021 - Author: Katie Baker

Specialist insurer Beazley has named Praesidium as its provider of enhanced risk management, prevention, and response services for Beazley Safeguard policyholders.

Beazley, insurance reinsuranceThe Beazley Safeguard policy combines risk management and crisis response for primary insureds with effective insurance coverage to reduce the risk of sexual abuse occurring within organisations and to respond appropriately if an incident of third-party sexual abuse does occur.

This partnership with Praesidium means that Beazley Safeguard policyholders will be able to access multiple services.

Praesidium has been providing prevention services and best practice guidance for creating safer environments for nearly 30 years.

Using current research and root cause analysis of thousands of cases of abuse, Praesidium has constructed The Praesidium Safety Equation, which identifies eight organisational operations that can decrease the risk of abuse.

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Praesidium’s standards are widely used across the United States in organisations such as schools and universities, churches, youth development and social service programs, foster care, resort properties, health clubs, and programs serving vulnerable adults.

Christina Herald, Executive Risk underwriter and Safeguard US product lead at Beazley, said: “Our new partnership with Praesidium supports our commitment to helping clients protect the populations they serve. Human behaviour is complex and unpredictable and the negative effects can wreak havoc on organisations and reputations.

“Praesidium’s deep experience in working with thousands of organisations and conducting research into who is most at risk, and where and under what circumstances incidents are most likely to occur, will provide great insight and support to our policyholders and in turn help create safer environments.”

Paul Nash, Employment Practices Liability & Safeguard Focus Group Leader, said: “Total immunity from risk is impossible, but effective risk management can reduce it substantially. Through our collaboration with Praesidium, Beazley Safeguard policyholders can reinforce their commitment to the highest standards of safety and supervision.”

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