Beazley Bridge Beazley presentation master February 2008 Beazley - - PowerPoint PPT Presentation

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Beazley Bridge Beazley presentation master February 2008 Beazley - - PowerPoint PPT Presentation

Apr 02, 2023 276 likes •376 views

Beazley Bridge Beazley presentation master February 2008 Beazley Bridge: A turnkey solution Simple administration: One Lloyds Global Contract One invoice When placed in the US, Beazley handles all premium apportionment and

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Beazley presentation master

February 2008

Beazley Bridge

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Simple administration:

  • One Lloyd’s Global Contract
  • One invoice
  • When placed in the US, Beazley handles all premium apportionment and

taxes (except for US Surplus Lines Taxes)

  • Full transparency of premium and tax

Simplified coverage:

  • No foreign languages
  • Reduce need for policy amendments
  • Ability to customize for individual countries

Simply more affordable :

  • No policy issuance fees
  • Side A/DIC coverage is less expensive than ABC cover

Beazley Bridge: A turnkey solution

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Beazley Bridge: Simply Drawn

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US D&O Master Program

Primary Carrier 1st XS Carrier 2nd XS Carrier Beazley Bridge XS ABC or A/DIC Israel D&O Program Non Lloyd’s Licensed Country D&O Program Germany D&O Program Primary Carrier Local Policy Primary Carrier Local Policy Beazley Bridge – Side A/DIC Beazley Bridge – Side A/DIC

Additional XS Carriers The illustration below exemplifies how Beazley Bridge has been drawn. Beazley Bridge can be applied as the sole D&O coverage in a jurisdiction (see Israel below) or as excess A/DIC coverage where an existing policy exists or more limits are required (see Germany below).

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Beazley Bridge Endorsements:

  • Endorsement is applied to any excess layer in a D&O tower
  • Provides Side A/DIC coverage using a broad DIC clause
  • DIC clause explicitly adds trigger for inability to pay due to lack of licensure
  • Provides shared aggregates or separate aggregates
  • Separate aggregate options have common claim wording
  • Provides explicit schedule of countries, premiums, taxes
  • New clauses for subrogation, governing law and non-scheduled countries

Beazley Bridge: Wording

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  • International premiums are based on a “just and reasonable” methodology and informed by

underwriting criteria such as:

  • Legal characteristics of country
  • Size of operations
  • Financial strength and ownership structure
  • Availability of indemnification
  • Nature of operations (e.g. extent of regulation)
  • Underlying coverage
  • Typical pricing
  • $500 - $2500 per country for shared aggregate limit when lone solution
  • $250 - $500 per country when excess of “local” policy
  • One page Beazley Bridge Questionnaire or rely on competitor applications and public

information

Beazley Bridge: How is Underwritten?

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Beazley Bridge: Target Company Profile

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Beazley’s US D&O Team Beazley’s UK D&O Team

Parent Domicile US Only Global Subsidiary Location EEA , Australia, Barbados, Belize, Bermuda, British Virgin Islands, Canada, Cayman Islands, Hong Kong, Israel, Mauritius, New Zealand, Singapore, South Africa, Switzerland (more territories coming shortly) All listed to the left and Anguilla, Antigua, Bahamas, Dominica, Falkland French Guiana, Grenada, Jamaica, Monaco, Namibia, St. Kitts & Nevis, St. Lucia, St. Vincent, Trinidad & Tobago, Vanuatu, Zimbabwe. Note: China & Japan when primary on select accounts Industry Classes Commercial Commercial and FI Size of Risk All, but in EEA, the risk must be a Large Risk meeting at least 2 tests (Global assets > 6.2m €, Revs > 12.8m €, Employees > 250) All

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  • One “Global Contract” replaces need for multiple policies
  • Lloyd’s global licensure differs from competitors’ parent/subsidiary networks
  • Contract certainty
  • Familiar language, jurisdictions, courts
  • Familiar underwriters, claims managers
  • Coverage issued with policy by endorsement
  • Claims experience
  • 2011 Lloyd's processed claims from 218 countries, paid claims in 197
  • 2011 Beazley processed claims from 160 countries, paid 7547 claims in 136
  • Lloyd’s “chain of security” and strong financial ratings
  • S&P A+, AM Best A XV

Lloyd’s of London: Key Benefits

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US Underwriters (Public Co D&O) Anthony Komro (MidWest) +1 (312) 476 6208 Anthony.Komro@beazley.com Marc London (SE, Mid-Atlantic) +1 (646) 378-4012 Marc.London@beazley.com Deirdre Finn (West Coast) +1 (917) 344 3310 Deirdre.Finn@beazley.com James Rizzo (New York Metro) +1 (646) 943-5901 James.Rizzo@beazley.com Jeremie Saada (Northeast) +1 (646) 943-5908 Jeremie.Saada@beazley.com UK Underwriters (Public Co D&O) Rachel Turk +44 (0)20 7674 7406 Rachel.Turk@beazley.com Neal Wilkinson +44 (0)20 7674 7239 Neal.Wilkinson@beazley.com UK Underwriters (EPL) Paul Nash +44 (0)20 7674 7255 Paul.Nash@beazley.com Wayne Imrie +44 (0)20 7674 7446 Wayne.Imrie@beazley.com Christina Herald +44 (0)20 7674 7580 Christina.Herald@beazley.com

Who Can help me?

US Underwriters (Pvt D&O, All EPL) Dan DeAlmeida (East/West Coast) +1 (646) 943-5903 Dan.DeAlmeida@beazley.com Pam Sfikas (Midwest) +1 (312) 476-6222 Pamela.Sfikas@beazley.com Jeremie Saada (East/West Coast) +1 (646) 943-5908 Jeremie.Saada@beazley.com

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