What we offer
Our coverage features a range of services designed to mitigate the reputational damage and the risk of legal action being brought against financial institutions:
- Forensic investigation services to assess the cause, gravity and extent of a data incident
- Breach notification and call centre services for third parties, lessening the administrative burden of the breach
- Legal advice and support to assess the legal ramifications of the breach and the actions required to mitigate them
- Public relations and crisis management specialists to handle the crisis response plan and communications strategy.
Beazley Breach Response
Beazley has been assisting clients handle data breaches since the launch of Beazley Breach Response in 2009 with a dedicated in-house team.The Beazley Breach Response Services team coordinates the expert forensic, legal, notification and credit monitoring services that clients need to satisfy all legal requirements and maintain customer confidence.
In addition to coordinating a data breach response, BBR Services maintains and develops Beazley’s suite of risk management services, designed to minimise the risk of a data breach occurring.
How can we help
The negative publicity resulting from a data breach can lead to massive reputational and brand damage. However an effective response can be complex and challenging. Therefore as well as providing cover for financial liability, our coverage features a range of services designed to mitigate the reputational damage and the risk of legal action being brought against financial institutions.
The Beazley Difference
Freedom lies in being bold. We dare to be different and seek bold possibilities to create more innovative, fair and satisfying outcomes for our clients, brokers and employees. From insuring the highest building in the world, to the first commercial lunar vehicle to operate on the moon - we boldly go where others won’t.
STRIVING FOR BETTER
Good is a start, but we go all-out for better. A driven community of individuals relentlessly push the needle and creating value. From launching the market’s first dedicated ESG syndicate to the establishment of our business unit focusing on designing digital insurance solutions, we pride ourselves on always going above and beyond. Simply put, at Beazley we go to 11.
DOING THE RIGHT THING
Acting with integrity in a straightforward, decent way is instinctive. Open and honest with others, we show respect and empathy however challenging the situation – demonstrated by our multi-award winning claims team. Doing the right thing makes for a fair-minded, rewarding environment and makes work and life better for all.
Examples or Scenarios
A financial institution insured discovered an instance of fraudulent payments of several million GBP, by an employee, for his own benefit. Beazley’s claims team worked with the insured to investigate the fraud and confirmed the availability of coverage under the Financial Institution Crime insurance policy.
Instances of fraud are becoming increasingly frequent and complex and financial institutions require sufficient coverage and support from their insurer to prevent it where possible and to investigate and minimise the damage when incidences occur.