BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Beazley, Lloyd’s insurers partner on reputational risk cover

reputational risk

Beazley PLC said Monday it is partnering with other Lloyd’s insurers to offer reputational risk coverage to protect firms experiencing crises.

Beazley said in a statement Monday that through coverage offered by the Custodian Consortium, policyholders could be entitled to crisis management advice worth up to $1 million.

Also participating in the consortium are Tokio Marine Kiln and Renaissance Re in addition to Beazley’s syndicate 5623, according to the statement.

The first $250,000 of the coverage is available on a pre-loss basis, regardless of whether a revenue loss is ultimately recorded, according to the statement. Limits of up to $35 million are available, according to a spokeswoman.

The policy works on an all-risks basis, offering coverage for situations ranging from allegations of sexual harassment or bullying against a senior executive, or the mismanagement of such claims, to faulty or misused medical equipment. 

The coverage is available to U.S.-domiciled organizations of all sizes, but is specifically targeted for companies with up to $5 billion in revenue, including both public, private, for-profit and not-for-profit enterprises.

There are exclusions for cyber and product recall, systemic events or macro-economic impacts, failure of corporate strategy and fraud or criminal acts, according to the statement.




Read Next

  • Volkswagen scandal highlights reputational risk

    QUEBEC CITY — Volkswagen A.G.'s recent troubles serve as a critical reminder of the threat posed by reputational risk and the importance of proactively managing it, a public relations expert says.