Beazley Auto Insurance Company Review

  • 33333
Address: 30 Batterson Park Road
City: Farmington
State: Connecticut
ZIP: 06032-2579
Phone Number: +1-860-277-3700
AM Best Rating: A
Market Cap: $2 Billion plus
Year Founded: 1986

This Beazley Auto Insurance Company Review focuses on global specialty property & casualty insurance provider, Beazley plc. Beazley plc is headquartered in London, England. The company is publicly-owned, and shares trade on the London Stock Exchange. The company maintains about 30 U.S. locations, including Farmington, Connecticut and New York City.

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Beazley plc maintains five Lloyd’s of London syndicates. In addition to customized property & casualty insurance lines, the company offers risk excess and catastrophic reinsurance policies for other insurers. Approximately half of the company’s business is underwritten in the United States. Other international office locations include Germany (reinsurance lines); Singapore (construction/engineering insurance coverage); France (professional/occupational indemnity insurance); Norway (energy industry insurance); Hong Kong (specialty insurance); and Australia (accident insurance).

Beazley Commercial Clients

Beazley’s focus customer groups include retail and wholesale jewel cutters and jewelers in the United Kingdom, Belgium/Europe, and Hong Kong. The company is also developing a new specialty insurance practice in managing liabilities related to data and information breaches. Beazley’s marine insurance unit covers one-way trips or voyages on the high seas.

The company’s sport injury practice insures professional athletes (such as rugby stars). The company offers commercial auto insurance and property & casualty personal lines geared towards high net worth individuals. The company also writes ultra-high value property insurance coverage in the U.S. marketplace, including high value homes.

Beazley Claims

A property & casualty’s lifespan from start to settlement is called the claim’s “tail” in the insurance industry. Beazley communications information mentions the company’s short “tail” process in claims settlement. Some claims, such as those involving environmental waste, may have long tails. Beazley attempts to manage a portfolio of short to medium claims tails and hopes to attract a clientele interested in rapid turnaround claims times.

The company offers an interactive grid for claims notification on the company website. Customers click the area in which they need to make a claim. The website helps the client perform the next steps. Alternatively, Beazley representatives help clients file a claim by telephone.

Beazley Agents

Beazley welcomes the opportunity to work with independent insurance sales brokers and agents. According to the company website, interested and experienced brokers should submit an indication of interest along with a profile of experience. The company requests an errors & omissions (E&O) certificate and financial statements for at least three prior years. If the broker or agent is approved to work with Beazley, the company offers a Broker Agreement for signature. For more details, interested agents should email brokercontact@beazley.com.

The company uses a network of independent insurance agents and brokers in the United States to distribute and sell its products. The company maintains an employed sales team and insurance sales networks in the United Kingdom and Europe according to local insurance laws and regulations.

Beazley and Lloyds of London Underwriters

Commercial auto insurance and other property & casualty insurance offered in the United States markets is written by one of Beazley’s Lloyds of London syndicates. According to the company website, Beazley first started to transact U.S. business in 2005. The company purchased part of a Mutual of Omaha property & casualty operation that year, and the acquisition provided an entry point for Beazley. The acquisition was named Beazley Insurance Company.

In 2009, Beazley purchased First State Management (a commercial excess and surplus lines operation) from Hartford Financial Services. The growth by acquisition prompted the company to reorganize as Beazley Group Limited. The parent was named Beazley plc that year.

Beazley Careers

If you are looking for a job with Beazley plc, in any of its global offices, the company’s website offers an updated list of job openings. Currently, there are open positions in the U.K. and U.S., ranging from underwriters to claims professionals. To inquire or apply for a job, send an email to recruitment@beazley.com.

Beazley Ratings

Global industry insurance rating entity A.M. Best Company has given Beazley’s U.S. division, Beazley Insurance Company, an “A” or Excellent financial strength rating, as well as an “a” issuer credit rating. A.M. Best also sees a stable outlook for the company in both categories.

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