The London-based Beazley Group plc, a leading Lloyd’s insurer, has created a facility in the Lloyd’s market for catastrophe – exposed U.S. commercial property risks.
Beazley said its “Quincat facility will enable the property team to write 100 percent layers for U.S. clients with limits of up to $35 million.
Risks insured by the Beazley Quincat facility, consortium 9407, will be underwritten by Beazley’s commercial property team, Jonathan Gray, Alastair Blades and Alistair Robson.”
Commenting on the new arrangement, Jonathan Gray, Head of Beazley Property Group stated: “We formed this facility because many of our U.S. clients need additional capacity. The impact of last year’s exceptional hurricane season continues to affect the market, causing coverage shortages throughout the U.S. but particularly in catastrophe-prone areas.”
Topics USA Excess Surplus Commercial Lines New Markets Business Insurance Property Lloyd's
Was this article valuable?
Here are more articles you may enjoy.
Study Finds ‘Alarming’ High Flood Risk for 17M Americans on Atlantic, Gulf Coasts 
Florida Woman Drives Elevated Pickup Over Lamborghini Sports Car in Parking Lot 
Former Ransomware Negotiator Pleads Guilty to Aiding Attackers 
State High Court Weighs in on Woman Taken for Organ Donation But Was Still Alive 
