The UK-based insurer has also rolled out healthcare, cyber, and D&O cover in Chile and Colombia

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Beazley has extended its specialist reinsurance offering in Latin America. (Credit: Free-Photos from Pixabay)

Beazley, a UK-based specialist insurer, has launched a suite of commercial reinsurance solutions in Latin America, offering protection against a range of complex and evolving risks.

The insurer has also made its healthcare liability offering available in Chile and Colombia.

Beazley claimed that the products are particularly designed for the two markets by an experienced, global team of underwriters.

Among the new products is Beazley Virtual Care, which is said to give protection against risks related to the provision of technology-powered healthcare and wellness services.

The company said that Beazley Virtual Care addresses the interconnected liabilities faced by the healthcare sector by offering customised medical malpractice and general liability.

Beazley international healthcare underwriter Elena Alhambra said: “The health sector has demonstrated incredible resilience during the COVID-19 crisis and for many healthcare organisations this has involved providing more services virtually.

“Beazley Virtual Care is designed to respond to the interconnected liabilities facing the sector in addition to more ‘traditional’ risks associated with healthcare.”

The company’s standalone medical malpractice cover has also been made available in Chile and Colombia to a range of companies in the healthcare sector. The medical malpractice cover will protect against claims resulting from the actions taken by medical professionals.

In Chile, the specialist insurer has also rolled out a set of cyber and financial lines reinsurance products for protection against the risks faced by businesses and their senior executives.

The company said that it has created InfoSec, an information security and privacy product that provides first and third party protection and also e-crime cover and costs for handling data breaches and cyber-attacks.

When a cyber incident takes place, the InfoSec product will help the policyholder by covering costs related to legal, forensic and notification services, fraud or loss prevention, and crisis management support among others.

The company has also launched its directors’ & officers’ (D&O) liability coverage in Chile along with professional liability and crime coverage for financial organisations.

Beazley Latin America regional manager Najib Bousakr said: “In 2020, businesses have been adapting quickly to manage the uncertainty created by a global pandemic and recession.

“We are pleased to introduce this suite of policies to help companies in Chile and Colombia navigate this new risk landscape and position them for future growth. We look forward to working with brokers, clients and ceding companies to provide flexible underwriting solutions, backed by global claims expertise.”