Beazley launches US crime and fidelity offering
by Gill Montia
Story link: Beazley launches US crime and fidelity offering
Beazley is expanding its specialty professional and management liability lines in the US with the launch of a fidelity and crime insurance offering.
The Lloyd’s insurer has formed a new team headed by Bill Jennings, who has joined from AXIS where he also headed the fidelity and crime team.
He is supported by Juliet White, formerly a fidelity underwriter at Chartis.
Fidelity and crime insurance protects organisations from loss of money, securities or other property resulting from crime by employees, and Beazley is targeting companies with more than $500 million in revenue in the technology, media and business services, manufacturing, distribution and retail sectors.
Its fidelity bond offering is aimed banks with greater than $1 billion in assets, insurance companies, stock brokerages, mutual funds and investment management firms.
Commenting on the expansion, Bill Jennings says: “The established crime and fidelity market is quite traditional in its approach and has not always been responsive in providing clients with the coverage they need. We look forward to bringing a fresh approach.”