General Specie

What we offer

Bespoke all risks of physical loss or damage for high value items from cash and precious metals to high value documents. Our coverage offers first party physical loss or damage/theft forms, but we can offer legal liability cover for some clients based on the contractual responsibility of the client to the items insured.

Coverage includes:

Losses whilst in transit or at secure storage facilities
Fidelity perils (also available with an extended discovery period)
Terrorism
Natural perils and catastrophe.

Up to US $100,000,000

How can we help

Our team has extensive experience in providing market leading specie coverage. In addition to jewellers block, fine art and cash in transit, we can also insure a variety of high value “general specie” items. The diverse nature of these assets makes them well suited to our specialist underwriting approach to creating bespoke coverage.

We also have expertise in providing insurance for excess coverage in relation to protection offered by the Securities Investor Protection Corporation (SIPC); Canadian Investor Protection Fund (CIPF); ERISA bonds; and lost instrument bonds.

Central to our approach is forming longstanding relationships with brokers and clients around the world. By working together, we are not only able to create the right insurance cover but can also advise on practical security measures to keep people and assets safe.

Who we can help

A range of organisations can benefit from our general specie coverage including:

Financial Institutions/Investment banks
Financial traders, dealers and brokers
Coin dealers
Vault risk

Where Is This Offered?

Worldwide

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

All assets known as specie share the fact that they are valuable, at Beazley we believe this is where the similarity ends.

Those in the jewellery trade have different concerns to organisations that regularly transport cash. The protection needed by those with a fine art collection is not the same as required for storing financial instruments.

As experts in their respective fields, our underwriters bring many years of experience to designing insurance cover to meet the needs and circumstances of each client and the assets that they need protecting.