BEAZLEY ESTABLISHES US MARINE INSURANCE PLATFORM

Beazley has launched a US marine insurance platform that is initially offering hull, protection & indemnity and liability cover for the marine and marine construction sectors. Beazley said that the products on offer in the US are designed to complement the large-risk coverages provided by its underwriters in the Lloyd’s market, where it has operated in the marine sector since 1999. It will target business that is typical of the US market, not that offered in London. The US operation will largely cover brown water risks, with limits up to $5m, and marine liability risks, both on a primary and excess basis, with limits up to $25m. US products will be available on an admitted basis through Beazley Insurance and on a non-admitted basis through the group’s syndicates at Lloyd’s. Beazley’s marine division wrote around $247.4m in premiums in 2016 through underwriters in the UK, Norway and Singapore.