As companies face ever increasing information security threats, they need their insurance to respond to exposures that didn’t exist just a few years ago. Heightened awareness of privacy issues, new legislative changes, and ever more sophisticated criminal cyber-attacks compound the challenge.
360 o protection
Malicious threats like zero-day malware, ransomware, spyware and scareware are on the rise but businesses can not ignore unintended disclosure and human error risks. Business interruption, cyber extortion, loss of critical operational data and electronic crime present cumulative risks that businesses must address.
Businesses must protect themselves on all fronts. With Beazley’s 360° approach, companies have access to a comprehensive set of solutions created to protect their business from the dangerous world of cyber risks.
In addressing these risks, one insurance policy stands apart. BBR provides breach response services for up to 5 million persons along with coverage for payment card industry costs, regulatory defense and penalties, and first party and crime coverage.
All BBR policyholders have access to pre-breach and risk management services and in the event of a cyber breach, BBR policyholders will work directly with Beazley’s in-house breach response team, BBR Services, and Beazley’s claim team to resolve the incident.
Our 360° approach to cyber risk makes BBR, quite simply, the world’s best designed cyber insurance solution.
First-party and crime coverage
Our policy form is streamlined and comprehensive to cover your organisation seamlessly in the event of a cyber breach. The BBR policy includes:
- First-party coverage for cyber extortion;
- Data recovery costs;
- Business interruption resulting from security breaches and system failures;
- Contingent business interruption from incidents occurring at the policyholder’s vendors and suppliers; and
- eCrime coverage.
In expanding our coverage, we have built on the unique policy design that has made Beazley a leader in cyber insurance since 2009. BBR offers more coverage per dollar of premium, through multiple towers of coverage that ensures the breach response costs covered under the policy do not erode your third-party limits.
BBR Services – a dedicated team of experts
A cyber breach isn’t always a disaster. Mishandling it is. Beazley is unique among insurers in having a dedicated business unit, BBR Services, that focuses exclusively on helping clients manage cyber incidents successfully.
BBR Services is a dedicated team of cyber breach professionals who assist BBR policyholders at every stage of incident investigation and breach response. They coordinate the carefully vetted forensics experts and specialised lawyers to help you establish what’s been compromised; assess your responsibility; and notify those individuals affected. In addition, BBR Services coordinates credit or identity monitoring for your customers and offers PR advice to help you safeguard your reputation.
We also, of course, indemnify your losses from lawsuits or regulatory actions, the risk of which may be reduced by a well-coordinated breach response but can never be completely eliminated. Beazley’s claims team has been at the forefront of defending clients in the developing and evolving legal arena of privacy class actions and regulatory investigations arising from cyber breaches.
Beazley invented this comprehensive approach. We do more of it than anybody else. To date we have managed thousands of breaches swiftly and successfully.
In managing a data breach, you want to make the calls. It’s your reputation that’s on the line. But it’s also smart to have a partner who’s been there before. Things happen too quickly; there’s too much to learn.
That’s why people turn to Beazley. We pioneered the concept of data breach insurance that focuses first and foremost on response. We coordinate the IT experts and specialised lawyers to help you establish what’s been compromised; assess your responsibility; and notify those you have to. In addition, we coordinate credit or identity monitoring for your customers and PR advice to help you safeguard your reputation. We also, of course, indemnify your losses from lawsuits or regulatory actions, the risk of which may be reduced by a well-coordinated breach response but can never be completely eliminated. Beazley has been at the forefront of defending clients in the developing and evolving legal arena of litigation and regulatory investigations arising from data breaches.
Beazley invented this comprehensive approach. We do more of it than anybody else. To date we have helped thousands of clients manage data breaches swiftly and successfully. We can’t guarantee your cyber security: no one can. But we can put you in control of your response.
Cyber & Breach Response Broker Portal
Cyber risks confronting businesses are ever changing. We have developed a website to keep our brokers informed and educated on the constantly evolving threat landscape.
Beazley Breach Response (BBR) team
Underwriter - Private Enterprise
+1 236 688 5075Patricia.Fu