Beazley launches financial lines products in Asia
Specialist insurer Beazley has launched two comprehensive suites of financial lines products in Asia, according to a Nov. 1 statement.
The first product has been created for financial institutions, offering a seamless set of policies, from directors and officers (D&O) liability to professional indemnity and cover for crime; along with tailored insurance for investment management and private equity organisations.
The second set of products provides comprehensive management liability cover to a range of commercial organisations and includes D&O liability, public offering of securities (POSI), employment practices liability, and pension trustee insurance. Data breach costs are included as standard in the management liability range for commercial organisations.
“Asia is a major focus for Beazley as we grow our specialty lines business outside the United States,” said Gerard Bloom, head of international specialty lines. “We have built an exceptionally talented team in Singapore with an excellent understanding of the local market.”
Nicholas Tey, international financial lines regional manager for Asia, added: “Recent years have seen significant new company law across the region, and regulatory requirements and anti-bribery laws show no sign of diminishing. Meanwhile the threat of data breaches continue to grow. We have designed our financial lines cover to give organisations and their executives confidence that they are protected from the range of related risks faced in the modern world.”
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