Specialty insures Beazley PLC on Tuesday said it has combined its cyber and executive risk coverage, prevention and response services under one roof via the formation of a new division.
Cyber, technology, errors and omissions, directors and officers, employment practices liability, crime, and mergers and acquisition lines of business are all available from the new unit, the company said in a statement. Product limits vary by line, starting from $ 5 million to $ 100 million, according to the company.
In aggregate, the business lines combined into the unit accounted for a little over 25% of Beazley's gross written premiums in 2018, the company said the insurer reported gross written premiums of $ 1
Beazley's breach response product and its executive coverage for M&A transaction liability are among the fastest growing products combined into the division, which is part of Beazley's head of cyber and executive risk, Mike Donovan, the company statement said.