SOURCE: Beazley Group

Beazley Group

December 13, 2016 08:00 ET

Beazley Product Solutions adds environmental underwriter

PHILADELPHIA, PA--(Marketwired - December 13, 2016) - Beazley, a leading provider of specialist reinsurance, has added Tim Foy as an embedded environmental underwriter in its Beazley Product Solutions focus group. Mr Foy will work out of the company's Philadelphia office underwriting environmental and other coverages for insurance company clients.

Mr Foy joins Beazley from XL Catlin where he most recently served as Vice President, Strategic Alliance Program Manager for Environmental specializing in solutions for primary insurance companies and MGA program administrators. Prior to that, he worked for various insurance and reinsurance companies including CNA and Zurich Re.

The Beazley Product Solutions division offers insurance companies an efficient and affordable option to broaden their product suites by "embedding", through reinsurance, specialty products into the insurers' existing product lines. Products such as Beazley Breach Response, Beazley's flagship data breach insurance product, have been made available to thousands more small businesses as a result. Beazley currently underwrites specialist insurance products through five divisions: in addition to specialty lines (which focuses predominantly on management liability and professional liability products), they comprise property; marine; political risks and contingency; and life, accident and health.

Jo McCann, Beazley's head of specialty treaty, said: "I am delighted to welcome Tim and expand the products available to our insurer partners through Beazley Product Solutions. Insurers are seeing real value in the ability to expand coverage for their clients by embedding Beazley's wide range of specialty insurance products within their existing offerings."

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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