Beazley launches Safeguard Consortium at Lloyd’s, bringing additional capacity for sexual molestation liability risks
Specialist insurer Beazley is pleased to announce the launch of a new consortium at Lloyd's to offer increased capacity for sexual molestation liability (SML) and to expand the limits available to US organizations.
This new consortium expands upon Beazley’s longstanding capabilities in underwriting SML risks in the US and Canada since 2006. Building on this experience, we developed and launched Beazley Safeguard in the US in 2014 and in Canada in 2016. This comprehensive offering combines advanced risk management and proactive crisis response services with effective insurance.
Beazley Safeguard is designed to help clients minimize the risk of abuse within their organization, and to respond effectively if an event occurs.
We will consider submissions from all industries and our experience has allowed us to identify six key markets:
- Educational institutions
- Not for profit and governmental organizations
- Religious institutions
- Transportation providers
- Healthcare providers
- Sport, leisure & recreation
General liability policies, many previously silent, now often expressly exclude the coverage and do not offer sufficient limits, compelling insureds to obtain the cover on a stand-alone basis.
The Safeguard Consortium is led by Beazley whose underwriters will quote and bind 100% of all risks. This complements Beazley's existing Safeguard offering of limits up to $5 million. Limits up to $10 million are available via the Consortium as well as through Beazley’s US offices.
The descriptions contained in this communication are for preliminary informational purposes only and coverages are available in the US only on a surplus lines basis through licensed surplus lines brokers underwritten by Beazley syndicates at Lloyd’s. The exact coverage afforded by the products described herein 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. Beazley USA Services, Inc. is licensed and regulated by insurance regulatory authorities in the respective states of the US and transacts business in the State of California as Beazley Insurance Services (License#: 0G55497).