Beazley has launched an improved version of its cyber insurance offering, InfoSec.
The company enhanced its product to better respond to the risk of data breaches – particularly the type accompanied by an extortion demand by attackers.
InfoSec’s comprehensive product offers coverage for:
The policy also allows clients to access Beazley’s dedicated in-house breach response unit, Beazley Breach Response (BBR) Services. BBR provides expertise to clients on how to maintain the confidence of their customers after a data breach, helps identify what data was lost in a cyberattack, and aids clients in notifying their customers of the attack.
Under the improved InfoSec policy, BBR also provides extensive risk management services. These services can help clients reduce their chances of experiencing a data breach and mitigate their impact. Clients will also have access to incident response and business continuity planning workshops, as well as advice from Beazley’s wholly-owned cyber security consulting company, Lodestone Security (at negotiated rates).
“The equivalent of an arms race is being run between cyber criminals and corporate America. The criminals are highly adaptable and our job as insurers is to ensure that our clients have the means to defend themselves effectively,” said Beazley’s technology, media and business services global focus group leader Mike Donovan.
