Beazley Expands Proprietary Risk Management Platform

Connecticut-based Specialty lines insurer Beazley announced that it is expanding BeazleySource, its proprietary risk management platform, to include information and advice for fiduciaries and administrators of employee benefit plans.

“Launched in April, BeazleySource provides loss prevention services for management liability exposures via a web based platform,” said the bulletin. “Access to BeazleySource is available to purchasers of Beazley’s employment practices liability insurance (EPL) and private company directors and officers (D&O) policies at no additional cost.”

In addition to D&O and EPL policyholders, buyers of Beazley’s fiduciary liability policy will have access to these expanded resources. These include:
– Guidance on the often complex implications of the Employee Retirement Income Security Act (ERISA);
– Summaries and alerts on recent court decisions and developments in ERISA law together with concise direction and advice on minimizing associated risk;
– Best practices advice for employers, plan fiduciaries and administrators;
– Training for plan fiduciaries and administrators on how best to investigate issues that may lead to claims.

“Information essential to the effective management of employee benefit plans can often be confusing,” noted Carrie Brodzinski, product manager for Beazley’s fiduciary liability policy. “It can be very difficult for plan fiduciaries to monitor the fast changing legal landscape and distill the information into a plan of action. BeazleySource is like having access to advice from an ERISA expert whenever you want — for free.”