Broker Market: Beazley Adds New Product Lines for Companies

Beazley has added two new product lines to broker e-trading platform myBeazley to meet the needs of UK domiciled private businesses with a turnover of up to £350m.

UK brokers can now access Beazley’s comprehensive service-led cyber product, Beazley Breach Response (BBR), and management liability, which includes directors’ & officers’ (D&O) insurance with limits of liability on an any one claim basis, as well as the option to add crime and/or employment practice liability cover.

Nick McGarey, Beazley’s focus group leader for international private enterprise and e-trading, said: “We have added two of our leading products suites to myBeazley, which can be sold separately or as a package. Our e-trading platform provides quick and easy quotes based on as few as four questions, allowing brokers to quote and bind policies for businesses with a turnover of up to £350m without the need to speak to an underwriter.

“Via their broker, businesses can now access our award-winning service-led cyber product, BBR, and our tailored management liability product suite, which includes a number of inclusive risk management services.”

As well as D&O cover and the option to add crime and employment practices, the management liability package also includes additional risk management services:

• Website recovery – a technical support service helps clients get their website up and running as quickly as possible if it suffers a denial of service attack.
• Executive replacement – provides access to a £50,000 fund to cover the temporary appointment of a replacement executive.
• Employment practices legal helpline – a bespoke helpline provided by Clyde & Co. 

BBR is Beazley’s comprehensive data breach product, which gives insureds access to a range of pre and post breach risk management services designed to help an organisation prepare for, and respond as quickly as possible to a data breach or cyber-attack.

Specialist products already available via myBeazley include event insurance, medical malpractice, pleasure craft, professional indemnity and media & entertainment.