Specialist insurer Beazley has announced a refreshed primary US public directors and officers wording. The refreshed wording is available in both the London market and on a surplus lines basis in the US.
Beazley has simplified its wording, which includes enhanced pre-claims coverage, expanded side A coverage, broad foreign exposure coverage and streamlined exclusionary language, the company said.
“During the last 12 months, our claims and underwriting teams carried out an extensive review of all the existing coverages available across the market and reimagined how our offering could be expanded,” said Wayne Imrie, head of London market wholesale executive risks at Beazley. “The product of this work is Beazley Boardroom Protect 2023.”
“This is what our broker partners and clients have asked of us,” said Jeremie Saada, head of US executive risk at Beazley. “Our bold, market-leading D&O policies bring confidence and certainty, and we are proud to build on this with our reimagined, simplified solution for our brokers and clients. Beazley Boardroom Protect 2023 will initially be available on surplus lines, but we look forward to offering it on US admitted paper later this year.”
Beazley Boardroom Protect is available through the Beazley Executive Risks team in both London and the US on a surplus lines basis, the company said. A wider US rollout on admitted paper is targeted for later this year.
Beazley recently named Clive Bannister as its new board chair. The company also recently reported its strongest underwriting performance since 2016.
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