Beazley unveils new financial lines products for Asia
Specialist insurer Beazley has launched two financial lines products for the Asia market.
The first of these products is aimed at financial institutions and offers a range of policies including directors and officers liability, professional indemnity and cover for financial crime, as well as policies designed specifically for private equity and investment management firms.
The second set of products are aimed at a wider range of commercial organisations and include broader but financially-themed management liability coverage, including pension trustee insurance, employment practices liability and public offering of securities insurance.
The product line also includes coverage for cyber insurance, including the cost of a data breach.
The financial lines team will be based in Singapore and led by international financial lines regional manager for Asia, Nicholas Tey.
“Recent years have seen significant new company law across the region, and regulatory requirements and anti-bribery laws show no sign of diminishing,” said Mr Tey. “Meanwhile, the threat of data breaches continues to grow. We have designed our financial lines cover to give organisations and their executives confidence that they are protected from the range of related risks faced in the modern world.”
“Asia is a major focus for Beazley as we grow our specialty lines business outside the United States,” added Gerard Bloom, head of international specialty lines.
