Specialty Treaty

[ Overview | Details | Forms | Your Team ]

Overview

In a liability marketplace dominated by big brand generalists, we believe that there is a world of opportunity for the specialist insurer able to bring a tailored approach to a specific class, exposure or industry. As business becomes more complex and new exposures and theories of liability emerge, the role of the specialised insurer becomes ever more relevant.

The Beazley Specialty Treaty team partners with these specialist carriers in a collaborative way with a long term perspective. With a portfolio of small to mid-size clients, we understand the challenges that a smaller institution faces - from balance sheets to resources. We take the time to understand our clients’ needs and exposures in depth - time that a larger reinsurer, focused on larger transactions, may be unwilling to dedicate.

Alongside the reinsurance transaction itself, we actively share product knowledge, market intelligence, output from our forecasting unit, help in product development, policy form reviews and claims support.

As a unit of a specialty carrier ourselves, we can offer support in new product development to help a carrier grow its business, for example by enabling it to offer employment practices liability or network security cover as part of its core product offering.

Details

We write both pro rata and excess of loss. We specialise in working layer risk excess and catastrophe excess of loss. Our latest product innovations include systemic catastrophe protection, liability industry loss warranties (ILWs) and embedded quota shares.

Limits available
Our maximum line size is US $7,500,000.

Target markets

Mutuals
Pools
Risk retention groups
Reciprocals
Small and mid-size stock insurers
Trusts
JUAs

Consistent with the Beazley group approach, we focus on claims made business or occurrence business with a controlled latency exposure.

Key territories

We write a world-wide portfolio but focus on North America, UK and the Asia-Pacific region.

Not all coverages or products described on this website are available in all US jurisdictions. Some products are available on an admitted basis in some but not all US jurisdictions from Beazley’s US insurance company subsidiary, while other products and coverages may be available in the US only on a surplus lines basis through licensed surplus lines brokers doing business with Beazley’s Lloyd’s of London syndicates.

The descriptions contained in these pages are for preliminary informational purposes only. Coverages will vary depending on individual state law requirements and may be unavailable in some states. The exact coverage afforded by the products described on this website is subject to and governed by the terms and conditions of each policy issued. The publication and delivery of the information contained herein is not intended as a solicitation for the purchase of insurance on any US risk.

Forms

Wordings

We support our clients' wording and can either work with the client and broker on the reinsurance wording or produce our own proprietary forms.

Applications

To consider an opportunity, we will need a business plan, underwriting guidelines, historical experience and exposure data. The key driver in our underwriting, however, is the quality and attitude of the management; therefore, we are willing to work with carriers on new ventures where data is scarce.

Your Team