Beazley launches new combined cyber and financial institutions consortium

Beazley Group has launched a new consortium providing combined civil liability, crime/fraud and cyber cover for financial institutions. The consortium, known as FLEX, delivers a seamless solution for financial institutions which addresses the full range of crime, professional, Directors & Officers and cyber risks these complex institutions face.

Offering up to EUR / USD 50 million limit, it ensures simplified placement and claims processes and reduces the risk of gaps in cover. Beazley’s market leading cyber ecosystem, Full Spectrum Cyber, which offers before, during and after cyber services and access to cutting edge cyber expertise from Beazley Security, is also available to clients.

Flex is available, either via Lloyd’s or Beazley’s European insurance company paper, to financial institutions across the globe, excluding US domiciled businesses.

“Demand for consolidated cover amongst financial institutions is growing as these complex organisations look for comprehensive solutions to address the ever expanding range of risks they face. We have worked closely with our clients and brokers to create a solution that offers them the simplicity, efficiency and advanced protection they need to better manage complex and interconnected threats in one single policy.” – Gerard Bloom, Head of International, Specialty Risks at Beazley.

“We are committed to consistently extending our Full Spectrum Cyber offering to businesses of all sizes and sectors. By bringing together our market leading cyber and financial institution experts, FLEX will actively reduce the risk of gaps in cover and build the resilience of our clients.” – Alessandro Lezzi, Head of International, Cyber Risks at Beazley.