Beazley Expands Fidelity Bond and Crime team in the U.S.

NEW YORK, Oct. 15, 2014 (GLOBE NEWSWIRE) -- Specialist insurer Beazley (BEZ.L) has appointed Matt Barone to the New York underwriting team to expand the company's reach in the commercial crime business sector.

Mr. Barone, a graduate of St. John's University, spent the last 16 years with AIG where he started as a claims adjuster. His focus for the last 12 years has been underwriting commercial crime business for the West Coast region of AIG.

"We are excited to welcome an underwriter of Matt's depth and experience to our team, and look forward to growing our business, with a particular focus on the larger market and Fortune 500 accounts," said Bill Jennings, underwriter for Beazley's fidelity bond and crime insurance products.

Crime insurance - or fidelity bonds, as those policies covering financial institutions are known - protects an organization from loss of money and securities, resulting from theft by its own employees.  It also insures against loss caused by third parties, such as forgery or alteration, theft from the premises or from a messenger while in transit, and theft of money or securities by computer and funds transfer fraud.

Beazley offers both  commercial crime insurance for non-financial companies with revenues of more than $50 million, as well as fidelity bond insurance for financial institutions with greater than $500 million in assets. A leading insurer of data privacy, network security, and fidelity risks, the company offers the industry's most advanced computer crime and account takeover coverages for financial institutions.

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