Beazley launches new combined coverage consortium for financial institutions

Specialty insurer Beazley has launched a new combined consortium, FLEX, offering comprehensive civil liability, crime/fraud, and cyber coverage for financial institutions.

The consortium provides a streamlined solution, addressing the full range of crime, professional, Directors & Officers (D&O), and cyber risks faced by these complex institutions.

With coverage limits of up to EUR/USD 50 million, it simplifies the placement and claims process while minimising gaps in protection.

Clients also benefit from Beazley’s Full Spectrum Cyber ecosystem, which offers pre- and post-incident cyber services, as well as cyber expertise from Beazley Security.

Gerard Bloom, Head of International, Specialty Risks at Beazley, said, “Demand for consolidated cover amongst financial institutions is growing as these complex organisations look for comprehensive solutions to address the ever expanding range of risks they face. We have worked closely with our clients and brokers to create a solution that offers them the simplicity, efficiency and advanced protection they need to better manage complex and interconnected threats in one single policy.”

Alessandro Lezzi, Head of International, Cyber Risks at Beazley, added, “We are committed to consistently extending our Full Spectrum Cyber offering to businesses of all sizes and sectors. By bringing together our market leading cyber and financial institution experts, FLEX will actively reduce the risk of gaps in cover and build the resilience of our clients.”

FLEX is available worldwide to financial institutions, excluding US-based businesses, through Lloyd’s or Beazley’s European insurance company.

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