Subsea

Beazley Leviathan is a specialist insurance underwriting facility created to understand, and provide bespoke but broad cover to, the subsea industry. With the emphasis on physical damage risks, we also provide cover for third party liability and associated hull risks.

What we offer

The recent growth in subsea activity in the world's oceans and waterways falls broadly into four categories:

Surveys of the water column, seafloor and strata below the seabed by use of towed or static equipment.
Construction, operation and maintenance of subsea installations using equipment that can be manned or unmanned, autonomous or remotely operated.
Recreational or scientific activity using manned vehicles or data recording devices.
Generation of renewable energy by way of tide or wave machines.

How can we help

Beazley Leviathan has pioneered the emergence of the subsea equipment insurance market. As the subsea industry has itself grown, we continue to offer bespoke and responsive cover that reflects the unique and evolving needs of the sector. Including:

The Beazley Difference

BEING BOLD

Freedom lies in being bold. We dare to be different and seek bold possibilities to create more innovative, fair and satisfying outcomes for our clients, brokers and employees. From insuring the highest building in the world, to the first commercial lunar vehicle to operate on the moon - we boldly go where others won’t.

STRIVING FOR BETTER

Good is a start, but we go all-out for better. A driven community of individuals relentlessly push the needle and creating value. From launching the market’s first dedicated ESG syndicate to the establishment of our business unit focusing on designing digital insurance solutions, we pride ourselves on always going above and beyond. Simply put, at Beazley we go to 11.

DOING THE RIGHT THING

Acting with integrity in a straightforward, decent way is instinctive. Open and honest with others, we show respect and empathy however challenging the situation – demonstrated by our multi-award winning claims team. Doing the right thing makes for a fair-minded, rewarding environment and makes work and life better for all.

Examples or Scenarios

A remotely operated vehicle (ROV) umbilical is parted by the mother vessel and the ROV is stranded on the seabed. The claim is reported to Beazley's claims team, which immediately appoints a loss adjuster to liaise with the client and conduct a survey of the weather conditions to understand the logistics and cost of a recovery. On this basis, we assess whether another vessel is required to assist with the recovery and the overall cost of the operation which we balance with the desired outcome of the client.