This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Beazley Bridge Radically Simplifies The Purchase Of Insurance For Directors And Officers Of US Multinationals





NEW YORK, Feb. 8, 2012 /PRNewswire/ -- Beazley Group plc (BEZ.L) announces today the introduction of Beazley Bridge, an innovative solution that will help brokers secure robust D&O insurance coverage for US multinational corporate clients - through a single insurance contract - to cover executives outside the United States.

Brokers have until now faced challenges in obtaining international coverage to protect executives of U.S. based multinational corporations. Normally a separate policy will need to be issued for each covered territory and premium taxes assessed and paid for each policy. The task of coordinating this complex and time consuming process usually falls to the corporation's broker.

Directors and officers of multinational corporations are increasingly threatened by exposures deriving from outside the United States, including increased regulatory scrutiny, emboldened activist investors, and the wider adoption of collective and class actions.

Beazley Bridge, coverage underwritten by the Beazley syndicates at Lloyd's, simplifies the process of obtaining coverage for these risks by leveraging Lloyd's global network of insurance licenses, which now extends to more than 65 countries. The wording extends the standard D&O policy underwritten by Beazley, and:

  • provides Side A "Difference in Conditions" coverage (protecting executives against claims that cannot be indemnified by their employers) in all eligible territories;
  • can be inserted at any attachment point in the program/tower; and
  • facilitates the assessment, collection and remittance of insurance premium tax.

Neal Wilkinson, global head of Beazley's management liability team, said, "As the leading insurer of directors and officers insurance in the Lloyd's market, Beazley is well placed to take advantage of the unique network of insurance licenses that Lloyd's has built up over more than three centuries. Beazley Bridge has been carefully designed to provide easily understandable and painlessly placed protection for directors and officers, introducing simplicity and flexibility into the insurance purchase."

The key features of the Beazley Bridge solution include:

  • Coverage provided via one contract
  • Coverage flexibly provided from any layer of a tower
  • Contract certainty and clarity of coverage from inception
  • One invoice, inclusive of premiums and insurance premium taxes by country
  • No need for multiple policies translated into multiple foreign languages
  • No policy issuance fees
  • Experienced claims service
  • Lloyd's ratings (A.M. Best A XV, S&P A+)

Note to editors:

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,142.46 +45.56 0.25%
S&P 500 2,101.35 +2.82 0.13%
NASDAQ 4,984.3960 +17.2550 0.35%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs