A seamless solution for crime, professional and cyber risks in a single policy
Up until now, Financial Institutions have needed at least two different policies and sometimes two different insurers for their Crime/Fraud, Civil Liability and Cyber covers. Not only does this duplicate effort and create inefficiencies, it’s rife with the potential for gaps in coverage.
Flex, our new combined Financial Institutions & Cyber solution changes all of that.
Backed by a Consortium that allows us to bring unrivalled capacity of up to €50M/USD50M, we’ve combined Civil Liability, Crime/Fraud and Cyber cover for financial institutions into one single policy. Directors & Officers (D&O) cover is also available, if required.
Other benefits for our clients include:
A joined-up solution for today’s interconnected risks:
This unique offering meets broker and client demands for simplicity, efficiency (not paying for the same cover twice) and advanced protection to better manage complex and interconnected risks in one single policy. With a flexible approach to how limits are deployed, we can find a solution that best suits our clients’ needs. Combined or separate limits for all coverages are available.
Simplified claims handling:
Our specialist claims team are at the forefront of managing claims. Thanks to the single policy there’s no complexity of arbitrating between the coverages from two different policies or possibly two (or more) different insurers, at a time of stress for our client.
Flexible placement:
Depending on client location and preference, choose either Lloyd’s or our company paper, Beazley Insurance dac. We can work with Lloyd’s brokers or non-Lloyd’s brokers, giving you a direct route to us, whatever works best for the client and your own business model.
A focus on cybersecurity:
With rising cyber threats, strengthening cyber resilience is urgent. Together with our cybersecurity firm, Beazley Security, our Full Spectrum Cyber proposition helps our clients to pre-empt, respond and continuously adapt to cyber risks.
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.
Available to Financial Institutions of all sizes, we have a broad appetite with a focus on the following organisations:
Available to financial institutions on a global basis, excluding US domiciled businesses.
Access Flex via your usual underwriter that ensures a single contact point and an easy, seamless placement.
To access Flex please get in touch your usual cyber or FI underwriting contact.
