Beazley enters Marsh’s ESG Risk Rating line-up | Insurance Business New Zealand
Lloyd’s Syndicate 4321 of specialist insurer Beazley has been added to the roster of insurance providers teaming up with broking giant Marsh on its assessment tool called ESG (environmental, social, and governance) Risk Rating (ERR).
Subject to the ERR score meeting Beazley’s threshold, clients who opt in to the Marsh tool will be offered global access to capacity through the Lloyd’s syndicate, which began underwriting in January.
“The ESG Risk Rating enables clients to take control of their ESG narrative and differentiate their organisations with insurers,” said Marsh climate and sustainability strategy head Amy Barnes. “The option of additional capacity from Beazley’s Syndicate 4321 is an important milestone in the development of the ESG Risk Rating, as we support clients in realising their ESG goals.”
Syndicate 4321 currently accepts directors’ and officers’ liability, healthcare, financial institutions, London market US cyber, property, marine hull, marine cargo, and aviation business. It focusses exclusively on offering capacity to businesses that perform well against ESG metrics.
“Beazley’s ESG Syndicate 4321 helps clients improve their ESG credentials and embed greater understanding of the risk profile of high-scoring ESG businesses into our own underwriting,” added Beazley portfolio underwriting head Will Roscoe.
“I am pleased that by adopting Marsh’s ESG Risk Rating tool, clients who are able to meet the criteria will benefit from access to additional capacity from Syndicate 4321.”