The raising of capital typically heralds the dawn of a new period of opportunity for a business. However the process associated with a public offering of securities can be complex and prone to unexpected issues. To give reassurance to organisations embarking on this road we have designed bespoke cover, including costs associated with:
- Claims made against:
- insured individuals
- the company
- controlling shareholders
- selling shareholders.
- Underwriter indemnity
- Follow-on offering claims
- Regulatory and internal investigations
- In relation to insured persons:
- data breach
- damage to reputation
- full limit mitigation costs cover.
The cyber challenge
It is all too easy to think of data breach as a single risk facing an organisation. The reality is that it constitutes a whole range of risks and the prevalence of each change over time. Beazley pioneered the development of data breach related insurance and, as a market leader in the field, we have helped clients handle over 7,000 data breaches since 2009. As illustrated in the following two snapshots, our experience provides a valuable insight into the challenges faced by organisations and their officers in preparing for, and dealing with, the changing nature of incidents:
- Ransomware attacks were over four times more numerous in 2016 than in 2015.
- Unintended disclosure, most often emails or faxes sent to the wrong recipient, represented 32% of breaches in 2016, up from 24% in 2015.
Source: Beazley breach insights
Our international management liability policies include data breach cover as standard.
Up to US$25,000,000
A broad range of commercial organisations can benefit from Beazley’s specialised cover.
Worldwide (excluding United States domiciled organisations).
Prospectus liability team
Regional Manager, Asia - International Financial Lines