Reinsurance News
Beazley news
News on Beazley, the London-market headquartered specialty insurance and reinsurance company.
Beazley develops affirmative cyber cover for marine risks
15th May 2019
Specialist insurer Beazley has developed a new affirmative cyber insurance product for the marine space, designed to protect vessel owners and operators. The product, called Beazley Cyber Defence for Marine, will provide insurance for physical damage and loss of hire in the event that a cyber incident impacts a vessel’s operational ... Read the full article
Beazley posts robust premium growth for Q1 2019
9th May 2019
Specialist insurer Beazley experienced higher than normal levels of claims within its marine, property, and reinsurance businesses during the first-quarter of 2019, while premium growth continued. Despite the pressures of increased levels of claims, the insurer did report 16% growth in gross written premiums (GWP) for the first-quarter of the year, ... Read the full article
Beazley names Richard Montminy Global Head of Property
8th May 2019
Specialist insurer Beazley has announced the appointment of Richard Montminy as Global Head of Property, effective May 20th, 2019. He brings more than 30 years of experience in both broking and senior underwriting within the commercial property space. Montminy joins Beazley from Zurich North America, where he was most recently Head of ... Read the full article
Beazley partnership to offer reputation risk solutions for US clients
29th April 2019
Specialty Lloyd’s re/insurer Beazley has announced a partnership with Tokio Marine Kiln and RenaissanceRe that aims to provide unique and flexible solutions for reputation risk. Custodian Consortium is designed to protect clients throughout the lifespan of a crisis by providing crisis management expertise and substantial loss-of-profits cover, to protect companies after ... Read the full article
Number of compromised business emails rise 133%: Beazley cyber report
15th April 2019
Business email compromises (BEC) made up 24% of the total number of cyber related incidents reported to Beazley Breach Response (BBR) Services in 2018, up from 13% in 2017, according to a report by the specialist re/insurer. BEC are social engineering attacks in which a cybercriminal uses compromised email credentials or ... Read the full article
Beazley appoints Hodson, Reizenstein as Non-Exec Directors
10th April 2019
Specialty re/insurer Beazley has announced the arrival of Nicola Hodson and John Reizenstein as Non-Executive Directors, effective April 10. Hodson, who is the current Vice President of Field Transformation for Microsoft Global Sales and Marketing, has also been appointed to the audit and risk committee. She was previously Chief Operating Officer ... Read the full article
Beazley adds two new products to e-trading platform
4th April 2019
Specialty re/insurer Beazley has added two of its product lines to the broker e-trading platform myBeazley to meet the needs of UK domiciled private business with a turnover of up to £350 million. UK brokers can now access Beazley’s comprehensive service-led cyber product, Beazley Breach Response (BBR), as well as management ... Read the full article
Beazley expands environmental liability coverage
8th March 2019
Specialty re/insurer Beazley has expanded the coverage provided by its environmental liability insurance policy, ECLIPSE, to offer new risk transfer solutions for businesses, landowners, and real estate investors. ECLIPSE provides environmental liability and pollution clean-up insurance, alongside risk management services that help control pollution risks associated with transactional and operational hazards, ... Read the full article
Beazley, Marsh launch cyber & breach solution for US manufacturers
27th February 2019
Specialist insurer Beazley and global broker Marsh have collaborated on the launch of a new tailored cyber insurance and breach response solution for U.S. manufacturers. Together, Beazley and Marsh have created Manufacturer's First Response, a Marsh and Beazley Breach Response (BBR) initiative that provides the following coverages tailored specifically to address ... Read the full article
Beazley discounts $10mn in premiums for U.S hospitals
19th February 2019
Specialty re/insurer Beazley has now discounted more than $10 million in healthcare insurance premiums to hospital clients in the U.S through its Quality Indicator Return Premium (QuIRP) facility. The facility is designed to support improvements to patient quality and safety standards by allowing hospitals and health systems to earn a discount ... Read the full article
Beazley to offer environmental liability policy for banks & lenders
12th February 2019
Specialist re/insurer Beazley has launched a new environmental liability policy that protects banks and other lenders from pollution risks that could affect the value of property used as collateral for commercial loans. In the event of a loan default due to environmental contamination, the site lender environmental asset protection (SLEAP) policy ... Read the full article
Ascot & Beazley launch tech-driven cargo consortium at Lloyd’s
12th February 2019
Ascot and Beazley have partnered on the launch of a new Lloyd’s based cargo consortium that uses insurtech solutions to help manage risk and claims performance. The A2B consortium, which aims to cement Lloyd’s position in the global cargo market, brings together a range of carriers to provide a maximum of ... Read the full article
Beazley CEO identifies growth opportunities for 2019
11th February 2019
Andrew Horton, Chief Executive Officer (CEO) of specialist re/insurer Beazley, has outlined the potential growth opportunities the company considers to be most promising going into 2019. Commenting on Beazley’s 2018 results, which saw profits fall by 55% due to heavy catastrophe losses and low investment yields, the CEO highlighted the ... Read the full article
Beazley profits fall by 55% as cat losses & investment yields bite
7th February 2019
Specialist re/insurer Beazley saw its profits fall by 55% in 2018 following a second consecutive year of heavy catastrophe losses and low investment income. The company’s profit before tax was $76.4 million in 2018, down from $168 million in the prior year, having been impacted by $110 million of natural catastrophe ... Read the full article
Beazley combines Cyber & Executive Risk divisions
5th February 2019
Beazley has announced the launch of a new division that is to be led by Mike Donovan, called Cyber & Executive Risk, launched to focus on some of the most challenging risks that businesses face around the world. The new unit combines the specialist insurer's cyber insurance capabilities and its experience ... Read the full article
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