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Beazley updates Primary US Public D&O Offering
Beazley Boardroom Protect 2023 is a clear, concise and reimagined wording, designed to simplify and enhance the US Public D&O offering for brokers and clients.
Specialist insurer Beazley has announced a refreshed Primary US Public D&O Wording, available both in the London Market and on a Surplus Lines basis in the US.
Beazley has taken the step to simplify their wording, which includes enhanced pre-claims coverage, expanded side A coverage, broad foreign exposure coverage and streamlined exclusionary language.
Wayne Imrie, Head of London Market Wholesale Executive Risks at Beazley, commented: “During the last 12 months, our claims and underwriting teams carried out an extensive review of all the existing coverages available across the market and reimagined how our offering could be expanded. The product of this work is Beazley Boardroom Protect 2023.”
Jeremie Saada, Head of US Executive Risk added “This is what our broker partners and clients have asked of us. Our bold, market-leading US D&O policies bring confidence and certainty, and we are proud to build on this with our reimagined, simplified solution for our brokers and clients. Beazley Boardroom Protect 2023 will initially be available on Surplus lines but we look forward to offering it on US Admitted paper later this year.”
Beazley Boardroom Protect 2023 is available via the Beazley Executive Risks Team in both London and in the US on a Surplus lines basis from April 2023. A wider roll out to US on Admitted paper is expected for late 2023.
Beazley plc (BEZ.L) is the parent company of specialist insurance businesses with operations in Europe, United States, Canada, Latin America and Asia. Beazley manages six Lloyd’s syndicates and, in 2021, underwrote gross premiums worldwide of $4,618.9m. All Lloyd’s syndicates are rated A by A.M. Best.
Beazley’s underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd’s.
Beazley’s European insurance company, Beazley Insurance dac, is regulated by the Central Bank of Ireland and is A rated by A.M. Best and A+ by Fitch.
Beazley is a market leader in many of its chosen lines, which include professional indemnity, cyber, property, marine, reinsurance, accident and life, and political risks and contingency business.