BIBA and Beazley launch event insurance scheme

17th February 2014

The British Insurance Brokers’ Association (BIBA) has selected Beazley to provide an exclusive event insurance scheme for its members.  The specially tailored scheme will provide access for BIBA members to Beazley’s market-leading event cancellation cover for a wide range of events both in the UK and internationally.

In addition to protection against financial loss arising from cancellation, disruption or rescheduling of an event resulting from circumstances beyond the control of the organiser, Beazley is offering event equipment and cash cover free of charge through the scheme.  Brokers will also have access to other event cancellation policy enhancements such as terrorism, communicable disease and national mourning cover.

BIBA members can place cover via Beazley Access, an easy-to-use online quote and bind system, or via Beazley’s Lloyd’s syndicate.

Steve Foulsham, BIBA’s Head of Technical Services, said: “We are always looking to provide members with niche, first-class insurance products, and the Beazley event insurance scheme fits the bill perfectly.  We are delighted to be working with Beazley, and to offer this market-leading cover to our members.”

Michael Price, Contingency Underwriter, Beazley Group said: “We are looking forward to working with BIBA brokers through this new scheme.  The extreme weather conditions we are currently experiencing are a timely reminder of the value of event insurance, and the financial impact of having to cancel or abandon an event. Events of all sizes can be covered both in the UK and internationally, and with over 5,000 events taking place each year in an average UK[1] town, this scheme offers BIBA brokers a profitable new business opportunity.”

-ENDS-

Note to editors

For further information please contact:

BIBA – Leighann Forsyth, Head of Communications
Tel: 020 7397 0223           Email: forsythl@biba.org.uk

Beazley – Ian Hoy, Broker Relations & Marketing
Tel: 020 7674 7020           Email: ian.hoy@beazley.com

[About British Insurance Brokers' Association

The British Insurance Brokers' Association (BIBA) is the UK's leading general insurance organisation representing the interests of insurance brokers, intermediaries and their customers.

BIBA membership includes just under 2,000 regulated firms having merged with the Institute of Insurance Brokers (IIB) in November 2011.

General insurance brokers contribute 1% of GDP to the UK economy and BIBA brokers employ more than 100,000 staff.

BIBA helps more than 400,000 people a year to access insurance protection through it’s Find a Broker service, both online and via the telephone.

Brokers provide professional advice to businesses and individuals, playing a key role in the identification, measurement, management, control and transfer of risk. They negotiate appropriate insurance protection tailored to individual needs.

BIBA is the voice of the industry advising members, the regulators, consumer bodies and other stakeholders on key insurance issues.   BIBA provides unique schemes and facilities, technical advice, guidance on regulation and business support and is helping to raise, and maintain, industry standards.

 

About Beazley

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 2013, underwrote gross premiums worldwide of $1,970.2 million. 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. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. 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

 


[1] Beazley research undertaken in September 2011 using three sample towns across the UK, with populations between 100,000 and 200,000.