UK-based Beazley has extended its Safeguard offer, which helps businesses minimise the risk of sexual abuse within their organisations, to the Australian market.

Safeguard Australia provides abuse insurance as well as prevention and crisis response services.

It is suitable for education, not for profit, transportation, healthcare, religious institution and leisure sectors, among others, and is available throughout Australia, accessed via Beazley’s London market platform.

A spokesperson at Beazley tells insuranceNEWS.com.au cover will be offered to group out-of-home care and residential care services, but foster care is “not within appetite”. It comes after the NSW Government recently introduced an emergency tide-over indemnity scheme for providers of out-of-home care after the last of the private insurers exited the complex and difficult space.

The insurance market failure comes in the face of a surge in historical claims, Ansvar exiting after its gross claims liability for its Physical and Sexual Abuse (PSA) cover leapt 350% in the last few years to account for 66% of casualty claims provisions – up from 27% in 2017.

Ansvar still offers PSA for religious institutions, schools, aged care and other sectors, but not for foster and group home care, which it says has "specific nuances”.

Safeguard Australia offers services for crisis management and communication, legal, forensic & investigatory, and survivor support. It comes with a $5 million limit for indemnity and defence excess, with a minimum premium of $25,000 and self-insured retention of $50,000.

Beazley Employment Practices Liability and Safeguard Focus Group Leader for Specialty Risks Paul Nash will head Safeguard Australia.

“Should an incident of sexual molestation occur, organisations need crisis management services in place, to ensure a well-coordinated and effective response is provided as quickly as possible,” Mr Nash said.

See the full details here.