Beazley and Hiscox launch D&O consortium

29.01.2014 – lloyds-gebaeudeLloyd’s players Beazley and Hiscox have joined forces on a new D&O facility for brokers and clients. Through the D&O consortium, the syndicates will be able to provide materially higher limits and offer additional solutions to complex risks, the firms said.

Central to the proposal is an increase in flexibility: by jointly participating on individual policies the consortium participants can offer alternative structures to brokers and clients. The capacity can be deployed in one tranche of up to $50 m or, more likely, as two individual layers within an insurance programme. Both insurers will retain full underwriting discretion. However where a risk falls within the appetite of both companies, they will jointly be able to write a larger line than each could individually commit to.

“This agreement strengthens the D&O marketplace. It also offers greater choice to brokers who are increasingly looking for key markets to provide larger primary lines or participation on multiple layers within an insurance tower”, said Neal Wilkinson, Head of Beazley’s Global Management Liability Team. (vwh)

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