Comprehensive coverage for the physical risks that large commercial properties are exposed to from natural perils to human acts.
Our coverage provides against financial loss as a result of physical damage to:
We offer coverage limits of:
- Up to US $30 million for any one risk
- US $10 million for critical catastrophe exposed risks
We can offer bespokepolicy forms based upon Lloyd’s and Broker manuscript forms through our market-leading Wordings Team.
As a strong lead market offering worldwide capacity, we provide a disciplined underwriting approach whether on a primary or excess basis; bespoke wordings and stable partnerships with many of our relationships going back well over two decades. Our underwriting team is empowered to make quick decisions, and we have a strong emphasis on service.
We are open-minded about the business that we will underwrite, and we have an appetite for ‘distressed’ and hard to place risks such as steel and utilities business. We also provide catastrophe coverage in peak zones around the world. We also have a dedicated in-house Claims Team with broad experience and expertise across a wide range of industry sectors, who are there to get our clients back to business if the worst should happen.Our service is delivered by specialist underwriters based in three regional hubs:
The centre of our global network for large commercial property placements with a worldwide remit. We are based out of Lloyds of London, where we can be found on the ground floor, Box 14A.
We underwrite risks domiciled in the US, and the team has a focus on “soft occupancy” risks such as commercial real estate. The North American Commercial Property team also works closely with the Open Market Large Commercial Property team based in London.
From hospitality to heavy industry, we insure large commercial property business throughout the Asia-Pacific region and Australia, with Indonesia, Japan, South Korea and Taiwan currently being our key territories.
A range of businesses benefit from our large commercial insurance including but not limited to:
Worldwide (exc sanctioned countries)
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 thea world, to the first commercial lunar vehicle to operate on the moon - we boldly go where others won’t.
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.
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.
An insured suffered a major fire loss at their distillery products facility, which due to complexities with the age and build type of the property, meant that there was significant potential for a long-term business interruption loss.
Our claims team worked closely with the adjustment team and supported our insured’s use of its own machinery experts to assist in quantum evaluation. Within a few weeks we had made significant interim payments to bolster the insured’s cash flow and enable them to make a series of both permanent and temporary repairs to keep their operations running.
Through working closely with our insured and their broker, we were able to help give them certainty over their future operational capabilities. As a result, they proceeded to construct a new plant with an increased output capacity on the exterior of the existing premises.
It’s a challenging time for the property market, and as we ease into 2023, we’re closely monitoring market conditions with an eye to what will unfold in the coming year.
As we approach the mid-point of 2023, the predictions we made about a hardening property market at the turn of the year have borne out, and the impact of reinsured natural catastrophe losses trickling into the primary market means that there is a further correction coming.