Specialist insurer Beazley has unveiled a comprehensive suite of financial lines products in Spain, designed for the needs of a broad range of commercial and financial organizations.
Led by Lorena Segovia, Beazley’s Spanish team of underwriters launch a set of products in the Spanish market, which include directors & officers’ liability (D&O) and public offering of securities insurance (POSI), along with professional indemnity and crime cover specifically designed for financial institutions.
As part of this suite, Beazley has also developed specific insurance for both private equity and investment management organizations, which recognize the individual needs of each. For example, distinct cover is offered for both investment managers and the funds for which they are responsible.
Drawing on Beazley’s experience as a market leader in cyber liability, data breach costs cover is included as standard in the D&O and POSIpolicies, the company said in a statement.
Gerard Bloom, head of international specialty lines, said: “We’ve recruited a specialist team in Spain with extensive financial lines experience and an impeccable understanding of the market. The launch in Spain heralds the European roll-out of our financial lines products in France, Germany and Italy over the coming months.”
Months of hard work in perfecting the company’s policies for the Spanish market have come to fruition, said Lorena Segovia, financial lines regional manager for continental Europe. “We are looking forward to working with local brokers and creating the insurance solutions that their clients need in a challenging and changing environment.”
European markets are a major focus for Beazley as it grows its specialty lines business outside the United States and it offers clients in Europe a choice of security from its insurance company, Beazley Insurance, and Lloyd’s syndicates, the company said.
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