Beazley Broadens A&E Professional Liability Insurance

FARMINGTON, Conn., April 12 /PRNewswire-FirstCall/ -- Beazley Group (BEZ.L), a leading underwriter of professional liability, management liability and commercial property exposures, has expanded its professional liability insurance offering for architects and engineers.  

The enhancements include privacy liability coverage and coverage for a number of costs associated with regulatory, administrative and disciplinary proceedings; peer reviews; and reputation management and lost productivity necessitated by a claim.  In the current economy, relief from such risks and costs can prove very valuable to firms with depleted order books.

Specifically, Beazley's newly expanded A&E professional liability policy now covers:  

• legal liability and defense costs from theft or misuse of personally identifiable non-public information in the insured's care or of third party corporate information provided to the insured under a confidentiality agreement
• increased reimbursement for regulatory or administrative actions related to the Americans with Disabilities Act, Fair Housing Act, or Occupational Safety and Health Act
• increased disciplinary proceedings reimbursement due to failure to carry out professional services
• public relations expert fees to help manage the adverse media attention arising from a claim
• third-party peer reviews to improve risk management practices
• increased reimbursement for billable time lost to defend a claim in court

"The difficult economy has put intense pressure on design firms. They are at greater risk of privacy liability claims -- both from former employees breaching client confidentiality agreements, and stretched-thin staffers inadvertently putting private information at risk," said Jerry Sullivan, Specialty Lines A&E global product leader for Beazley.

"In this climate, any extra expenses -- whether to support an owner in a regulatory hearing, or conduct a peer review to enhance risk management -- can be difficult to bear. Our latest enhancements are geared to help our policyholders rise to these challenges and are indicative of our commitment to provide outstanding support to design firms through all market conditions," he added.

A market-leader in architects and engineers professional liability for almost 25 years, Beazley insures more than half of the top 50 of the Engineering News-Record top 500 design firms, as well as thousands of smaller organizations and programs.  Along with far-reaching insurance policies, Beazley provides design firms with a suite of risk management and loss mitigation services.

Beazley plc (BEZ.L), is the parent company of specialist insurance businesses with operations in Europe, the US, Asia and Australia. Beazley manages five Lloyd's syndicates and, in 2009, underwrote gross premiums worldwide of 1,115.5 million pounds Sterling. All Lloyd's syndicates are rated A by A.M. Best.

Beazley's underwriters in the United States focus on writing a range of specialist insurance products. This coverage is available on an admitted basis in most, but not all US jurisdictions through Beazley Insurance Company, Inc., an AM Best A rated carrier licensed in all 50 states.  Contact your insurance broker for further information.  In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd's.  Beazley is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business.

For more information please go to: www.beazley.com.

SOURCE Beazley Group