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Beazley news

News on Beazley, the London-market headquartered specialty insurance and reinsurance company.

Beazley enhances its Reputational Risk policy

26th January 2021

Specialist insurer Beazley has partnered with Polecat Intelligence London in a bid to enhance its Reputational Risk insurance policy. This platform works by providing artificial intelligence-enabled tools to help policyholders control their corporate brand and reputation more effectively. The policy's cover includes crisis management services to minimise a companies reputational damage, and ... Read the full article

Beazley appoints Christine LaSala as Chair

22nd January 2021

Specialist insurer Beazley has announced that Sir Andrew Likierman will be succeeded by Christine LaSala as Chair of the Beazley Remuneration committee. This is at the conclusion of the company's AGM on 26 March, 2021 following the completion of his second three-year term, in line with standard succession requirements. In addition to ... Read the full article

Beazley reports increase in ransomware severity, cost

24th December 2020

Specialist insurer Beazley has reported an increase in the severity and cost of ransomware attacks this year compared to 2019. Consequently, Beazley considers ransomware the biggest cyber threat currently facing organisations. According to the latest Beazley Breach Insights report, the total cost of ransom payments doubled year-on-year through the first six months of ... Read the full article

Beazley adds Pierre-Olivier Desaulle to board as non-exec director

11th December 2020

The board of specialist insurer and reinsurer, Beazley, has announced the addition of Pierre-Olivier Desaulle as a non-executive director, effective January 1st, 2021. Desaulle has been serving as a non-executive director on the firm's subsidiary board, Beazley Insurance dac, since November of 2017. Formerly, he served as the Chief Executive Officer (CEO) ... Read the full article

Beazley adds Chris Hill to US marine team

7th December 2020

Specialist insurer Beazley has announced the appointment Chris Hill as an underwriter within its US marine team. Based in New York, Hill will underwrite a US-wide book of marine hull and liability risks. He joins Beazley from Berkley Offshore Underwriting Managers where he spent more than seven years, most recently as vice ... Read the full article

Beazley expands insurance products in Latin America

11th November 2020

Specialist insurer Beazley has announced that it has expanded its insurance products in Latin America with a suite of commercial reinsurance solutions. Beazley’s healthcare liability offering is available in Chile and Colombia with products designed specifically for these markets by a global team of underwriters. Included is Beazley Virtual Care, a policy ... Read the full article

Beazley launches fine art & jewellers’ block in France

9th November 2020

Specialist insurer Beazley has launched of a suite of solutions for fine art and jewellers’ block in France, expanding its offering in mainland Europe. The cover is available on a worldwide basis and includes all risk damage to objects, transport and exhibitions, terrorism and natural catastrophe events, and title deed default. Ariane ... Read the full article

Beazley reports 16% premium growth, strong rate increases

6th November 2020

Specialist insurer Beazley has reported a 16% increase in gross premiums written over the first nine months of 2020, supported by average rate increases of 14% on renewal business. Premiums came to £2,534 million at 9M 2020, up from £2,192 million for the same period last year, with growth across most ... Read the full article

Beazley launches global broker portal for digital health sector

5th October 2020

Specialist insurer Beazley has announced the global launch of an online portal that provides insight and support to brokers and their clients in the digital health sector. Beazley’s Virtual Care portal aims to help its broking partners mitigate key areas of risk affecting tech-led healthcare and wellness services. The risk solution integrates ... Read the full article

Analysts advise Beazley to secure more reinsurance

1st October 2020

Analysts at investment banking group Jefferies have advised Beazley to proactively purchase additional reinsurance, after an upward revision in its COVID-19 losses caused share prices to plummet. Beazley doubled the estimated cost of its COVID-19 claims last week from $170 million to $340 million, mainly due to further event cancellation ... Read the full article

COVID-19 event cancellation revisions not expected across the board: analysts

24th September 2020

Analysts at Morgan Stanley do not expect other re/insurers to follow Beazley in significantly increasing revisions in COVID-19 event cancellation loss estimates. It's understood the impact of events cancelled in the third and fourth quarter will likely be more modest than in the first half of 2020. Beazley has increased its estimated ... Read the full article

Beazley expands US executive risk team

23rd September 2020

Specialist insurer Beazley has expanded its underwriting and claims presence in the US with a series of new hires within the executive risk team. Elizabeth Cassarino joins Beazley’s Boston team as an underwriter. She most recently served as an executive risk underwriter at Chubb. Before that, she spent six years at Ace ... Read the full article

Beazley expands life sciences offering in UK

23rd September 2020

Specialist insurer Beazley has announced the launch of an enhanced version of its life sciences offering in the UK. The new policy is designed to protect the sector’s small and start-up research & development-focused organisations. Beazley’s new life sciences wording includes: products liability; professional indemnity; public liability; and medical malpractice; and claims ... Read the full article

Beazley doubles COVID-19 claims cost to $340mn

22nd September 2020

Specialty insurer Beazley has increased its estimated cost of COVID-19 claims from $170 million to $340 million. The claims are from Beazley's first party business and almost exclusively driven by further event cancellation losses. Given the recent surge in COVID-19 cases Beazley was forced to abandon its initial $170 million estimate, which ... Read the full article

Remote working triggers rise in phishing attacks over Q2: Beazley

18th September 2020

The growing reliance on remote working due to the COVID-19 pandemic has triggered a rise in phishing and social engineering scams over Q2, according to specialist re/insurer Beazley. These kinds of email attacks had been on the decline from Q4 2019 to Q1 2020, but the arrival of the global pandemic ... Read the full article

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