Beazley expands commercial reinsurance offerings in Latin America

Beazley expands commercial reinsurance offerings in Latin America | Insurance Business America

Beazley expands commercial reinsurance offerings in Latin America

Specialist insurer Beazley has expanded its offerings in Latin America with a suite of commercial reinsurance products.

Beazley’s healthcare liability offering is now available in Chile and Colombia, with products designed specifically for those markets. Included in the offering is Beazley Virtual Care, a policy that provides coverage for risks associated with the provision of technology-enabled healthcare and wellness services.

Beazley’s standalone medical malpractice cover is also now available in Chile and Colombia to a wide variety of companies in the healthcare industry.

In Chile, Beazley has also launched a suite of cyber and financial lines reinsurance products to protect against the risks faced by businesses and their senior executives. Beazley’s information security and privacy (InfoSec) product offers first- and third-party protection and e-crime cover and costs for managing data breaches and cyberattacks. In the event of a cyber incident, the InfoSec product covers costs associated with legal, forensic and notification services, call-center services, fraud or loss prevention, and PR and crisis-management support. 

Additionally, now available in Chile are Beazley’s directors’ and officers’ liability coverage and professional liability and crime coverage for financial institutions. The policies provide coverage for companies and their senior executives operating in an increasingly litigious environment, Beazley said. These products were launched in Colombia in July.

“In 2020, businesses have been adapting quickly to manage the uncertainty created by a global pandemic and recession,” said Najib Bousakr, Beazley regional manager for Latin America. “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. We look forward to working with brokers, clients and ceding companies to provide flexible underwriting solutions backed by global claims expertise.”