Business News: Beazley, PURE, Stonetrust

April 5, 2018

Beazley Adds Embedded Workplace Violence Cover for its U.S. Insurer Clients

Specialist insurer Beazley has added embedded workplace violence cover to the range of specialist products that U.S. insurers can access through its Beazley Product Solutions (BPS) team. By partnering on a reinsurance basis with BPS, insurance carriers are able to offer a wide range of specialist products to their policyholders, who are typically small and medium-sized organizations.

Beazley’s embedded workplace violence cover can now be added by US insurers to their business owner, commercial general liability, employment practice liability or professional liability policies. It is offered on a 100 percent quota share basis, with BPS responsible for claims management.

The cover contains a broad definition of workplace violence, encompassing any actual or alleged intentional act or threat of physical violence, harassment, intimidation, or other threatening or disruptive behaviour that occurs at the work ‘premises’.

Up to $100,000 of cover is available for liability losses incurred by the insured (damages and defense costs), as well as business interruption losses and the costs of employing temporary personnel.

BPS’s embedded workplace violence cover also provides access to post-incident crisis management support from one of the leading specialist crisis management firms in the United States, including:

  • critical decision support in the first moments of a crisis
  • investigation and response services
  • crisis communications
  • media services

PURE Partners with CommonBond to Offer Student Loan Assistance to Employees

The PURE Group of Insurance Companies (PURE Group), which includes Privilege Underwriters, Inc. (PUI), the holding company of the PURE Group, has partnered with financial technology company CommonBond to add a student loan assistance program to its benefits package. The PURE Group joins more than 200 partners now offering CommonBond for Business student loan benefits to their employees.

Through the program, employees of the PURE Group are eligible to receive $100 per month toward student debt repayment. The contribution to employees is made on top of their existing monthly student loan payments; it does not lower the employee’s current monthly payment. Each individual will also have access to the CommonBond for Business repayment evaluation platform, which includes an overview of income-based and loan forgiveness options, as well as customized recommendations for consolidating and refinancing private and federal loans. Additionally, employees who are parents can utilize solutions offered by CommonBond to help pay for their child’s undergraduate or graduate education.

The PURE Group adds this benefit to a growing list of attractive offerings, such as flexible time off, which includes designated paid time off to volunteer; tuition reimbursements for career-related certifications and passion-related courses; and fitness discounts.

Stonetrust Now Offering Workers’ Comp in Missouri and Tennessee

Stonetrust Commercial Insurance Company President and CEO Michael G. Dileo announced the company is now writing workers’ compensation coverage in Missouri and Tennessee effective April 1, 2018.

The company, which concentrates on employers in construction, wholesale, retail, manufacturing and other service-related businesses, intends to enter the Alabama and Kansas market within the next 12 months.

Stonetrust is headquartered in Baton Rouge, Louisiana currently operates in eight states including Louisiana, Texas, Oklahoma, Arkansas, Mississippi, and Nebraska in addition to Missouri and Tennessee.

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