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November 11, 2020

Beazley rolls out new commercial reinsurance solutions in Latin America

By Verdict Staff

Specialist insurer Beazley has rolled out new suite of commercial reinsurance solutions in Chili and Colombia, expanding its specialist reinsurance offering across Latin America.

The new solutions include the healthcare liability offering launched by the company in Chile and Colombia.

Beazley said that these products have been designed particularly developed for these markets by an experienced, global team of underwriters.

Beazley Virtual Care, introduced as part of the company’s healthcare liability offering, offers protection against risks associated with the provision of technology-enabled healthcare and wellness services.

The company has also launched standalone medical malpractice cover in Colombia and Chile to a wide variety of companies in the healthcare sector.

This cover is designed to provide protection against claims arising from actions taken by medical professionals.

Cyber and financial lines reinsurance products

Beazley has introduced a line of cyber and financial lines reinsurance products in Chile to protect businesses and their senior executives against risks.

The company’s InfoSec product supports the policyholder in the event of a cyber incident by covering costs associated with legal, forensic and notification services. Additionally, it also offers call centre services, fraud or loss prevention, and PR and crisis management support.

In Addition, Beazley launched directors’ & officers’ (D&O) liability coverage as well as professional liability and crime coverage for financial institutions in Chile.

The policies offer protection for companies and their senior executives operating in an increasingly litigious environment.

These products were rolled out in Colombia in July this year.

Beazley regional manager for Latin America Najib Bousakr said: “In 2020, businesses have been adapting quickly to manage the uncertainty created by a global pandemic and recession. We are pleased to introduce this suite of policies to help companies in Chile and Colombia navigate this new risk landscape and position them for future growth.

“Our financial lines products offer reassurance to businesses and their directors that they are protected against evolving financial risks in a challenging operating environment.”

In July this year, Beazley introduced an online booking system for underwriters and brokers in the UK.

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