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Reinsurance News


Email data breaches continue to escalate in Q2: Beazley

6th August 2018

The number of attacks targeting business email accounts continued to increase through the second quarter of 2018, particularly for organisations using Microsoft’s Office 365, according to specialist insurer Beazley. Beazley said that email compromises accounted for roughly 23% of incidents reported to its Beazley Breach Response (BBR) Services team during Q2 ... Read the full article

Beazley launches new Lloyd’s consortium for U.S wage & hour risks

26th July 2018

Specialist insurer Beazley has launched a new consortium at Lloyd’s to provide increased capacity for wage & hour risks and to expand the range of choices available to U.S organisations. The Concorde Consortium will underwrite risks on a surplus lines basis, building on Beazley’s existing expertise in employment practices liability (EPL), ... Read the full article

Beazley eyes broader growth in improved rating environment

20th July 2018

Price firming has been in line with the expectations of specialist insurer Beazley, and the firm sees an opportunity to take advantage of an improved rating environment, where it can ultimately look for growth across a broader range of business lines. The London-based insurer reported a decline in profit before tax ... Read the full article

Beazley announces Global Lawyers Consortium for large UK firms

19th July 2018

Beazley, the specialist insurer, has announced the launch of a new consortium that will provide professional indemnity insurance to large law firms based in the UK. Led by Beazley, the Global Lawyers Consortium will offer up to £10 million of primary capacity. Brenna Westinghouse, Focus Group Leader for Large Law Firms at ... Read the full article

ACORD, Aon, and Beazley release new Cyber Data Breach Standard

9th July 2018

ACORD, the insurance and reinsurance industry data standards body, has collaborated with Aon and Beazley on the development of the ACORD Cyber Data Breach Standard, a new standard that aims to increase operational efficiency across the global re/insurance value chain. According to a 2017 ACORD survey, nearly 60% of re/insurers consider ... Read the full article

Beazley appoints new territory manager for eastern Canada

9th July 2018

Specialist insurer Beazley has named Jo-Anne Hawthorne as territory manager for eastern Canada, reporting to Cheryl Hobbs, Territory Manager for Canada.  Hawthorne will be responsible for developing relationships with brokers in Ontario, Atlantic Canada, Ottawa and Quebec, with a focus on expanding the firm's book of business throughout these regions.  She brings ... Read the full article

Beazley launches updated InfoSec cyber policy

18th June 2018

Beazley has launched an enhanced version of its Beazley InfoSec policy to ensure its large business clients remain protected against the evolving nature of cyber exposures. When Beazley's policy was first launched in 2006, policyholders were mainly concerned with third party exposure from the loss of personal customer data, but, more recently, ... Read the full article

Beazley considers GDPR implications of Dixons Carphone data breach

13th June 2018

Beazley has considered the potential General Data Protection Regulation (GDPR) implications of a recently reported data breach at Dixons Carphone, which involved 5.9 million payment cards and 1.2 million personal data records. Dixons Carphone said there was no evidence that any of the cards had been used fraudulently following the breach, ... Read the full article

Beazley splits specialty lines into two divisions led by Eaton and Donovan

4th June 2018

Specialist and Lloyd’s focused re/insurer Beazley plc has completed a split of its specialty underwriting unit into two separate divisions, which places the cyber risk practice at the firm outside of specialty risks and into a new unit aligned on technology, media, business and management liabilities. Beazley has been reorganising its ... Read the full article

Beazley hires Sam Franks as Regional Business Development Manager

24th May 2018

Specialist insurer Beazley has announced the appointment of Sam Franks as Regional Business Development Manager. Franks is set to arrive at the firm on September 1 2018 and will be expected to lead Beazley’s U.K. business development initiative from its Birmingham office. He joins from Hiscox Birmingham, having served as Regional ... Read the full article

Beazley’s Q1 gross premiums grow 10% amid strong rate increases

11th May 2018

Beazley has reported that its gross premiums written increased by 10% to $631 million at the end of first-quarter 2018, as premium rates increased by 3% on its renewal business. The specialist insurer's reinsurance division saw a particularly strong underwriting performance, with rates increasing 7% across the portfolio and premiums also ... Read the full article

Beazley to offer new event cancellation product for charities

10th May 2018

Specialist insurer and reinsurer Beazley has developed a new event cancellation insurance product for registered charities to protect them against costs and loss of revenue related to the events they stage. The coverage has been tailored to charities by recognising income derived from donations made at events, which contribute significantly to ... Read the full article

Beazley and Weather Decision collaborate to automate claims payment

2nd May 2018

Beazley, a specialist re/insurer and provider of weather-related coverage for event organisers, has partnered with Weather Decision Technologies (WDT) to automate the payment of claims under its Beazley Weather Guard policy. The collaboration will allow Beazley to offer a digitised, personalisable policy that automatically pays policyholders based on the occurrence of ... Read the full article

Beazley partners with Risk Cooperative and Bitfury on blockchain registry

2nd May 2018

Beazley has partnered with Lloyd’s coverholder Risk Cooperative and blockchain technology company Bitfury to develop a blockchain-based risk registry for crisis re/insurance and risk management. The blockchain based-system aims to provide a single source of accurate, real-time information on a policy so that re/insurers and service providers can react more quickly ... Read the full article

Lucien Mounier to head Beazley’s Asia Pacific operations

11th April 2018

Beazley has announced the appointment of Lucien Mounier as Head of its Asia Pacific operations, a region the specialist insurer has identified significant growth opportunities for its products. The appointment sees Mounier move from Paris to be based in the firm's Asia Pacific hub in Singapore, and he will have responsibility for ... Read the full article

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