Specialist insurer Beazley has today launched a new consortium providing combined civil liability, crime/fraud and cyber cover for financial institutions.

Offering limits of up to E/US$50m, Flex is available either via Lloyd’s or Beazley’s European insurance company paper, to financial institutions across the globe, excluding US domiciled businesses.

Gerard Bloom, head of international, specialty risks at Beazley, said: “Demand for consolidated cover amongst financial institutions is growing as these complex organisations look for comprehensive solutions to address the ever expanding range of risks they face. We have worked closely with our clients and brokers to create a solution that offers them the simplicity, efficiency and advanced protection they need to better manage complex and interconnected threats in one single policy."

Alessandro Lezzi, head of international, cyber risks at Beazley added: “We are committed to consistently extending our Full Spectrum Cyber offering to businesses of all sizes and sectors. By bringing together our market leading cyber and financial institution experts, Flex will actively reduce the risk of gaps in cover and build the resilience of our clients.”

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