SOURCE: Beazley Group

Beazley Group

November 07, 2016 08:00 ET

Beazley launches broad professional liability form for small & mid-sized companies

New policy features specialized coverage enhancements for target classes

NEW YORK, NY--(Marketwired - November 07, 2016) - Beazley, a leading professional liability insurer, today launched a significantly enhanced miscellaneous professional liability policy form for small and mid-sized firms. The new Beazley policy offers broad coverage in its base form with specialized coverage enhancements available for a range of industries.

Beazley's enhanced professional liability policy form features seven base coverages:

  • Professional liability - coverage for unintentional breach of contract or broader accusations of negligence in work done for clients.
  • Information security & privacy liability - coverage for theft, loss or unauthorized disclosure of personally identifiable or third party corporate information. Coverage for unauthorized access, theft, of or destruction of data, denial of service attacks and virus transmission involving the insured's computer systems resulting from computer security breaches.
  • Privacy notification costs - coverage for the costs associated with customer notifications and credit monitoring after a data breach.
  • Regulatory defense & penalties - coverage for damages and claims expenses related to improper customer notifications after a data breach.
  • PCI, fines, expenses & costs - coverage for fines, expenses and costs related to non-compliance with Payment Card Industry (PCI) data security standards.
  • Personal injury liability - coverage for damaging the reputation of an individual or business, infringing on their right to privacy, or accusations of making money illegitimately from someone else's name or likeness.
  • Website media content liability - coverage for copyright infringement, plagiarism and the infringement of someone else's domain name or other intellectual property rights.

Specialized coverage enhancements are available for the following target classes: marketing, public relations, market research, lobbyists, management consultants, safety consultants, tax preparers, mediators, arbitrators, recruiters, staffing, human resources consultant, interpreters, translators, event planners and disability representatives.

Jamie Orye, private enterprise underwriter at Beazley, said: "We're excited to launch an improved form with coverages specifically designed to address the unique risks companies face across a variety of industries. Our enhanced professional liability coverage accelerates the underwriting process, covers the main exposures companies face, and helps our broker partners efficiently meet their client's needs."


Note to editors:
Beazley plc (BEZ) is the parent company of specialist insurance businesses with operations in Europe, the US, Latin America, Asia, the Middle East and Australia. Beazley manages six Lloyd's syndicates and, in 2015, underwrote gross premiums worldwide of $2,080.9 million. 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 is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business.

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