With the burden of proof typically on the employers, the impact can run beyond financial penalties and create deep reputational damage. The risks are only set to increase as the implications are established of non-standard forms of working becoming more prevalent, such as zero hours contracts and freelancing.
To help employers cope, Beazley has developed an employment practices insurance that addresses emerging exposures as well as traditional ones, including:
- Regulatory costs
- Cyber bullying
- Immigration assistance
- Data breach
- Sensitivity training
- Joint venture loss
- Third party claims.
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 5,000 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$25m
A wide range of non-financial organisations can benefit from the cover.
Worldwide (excluding United States domiciled organisations).
Employment practices liability team
Claims Team Leader - 1st Party Portfolio, Healthcare and General
New York, NY, USA
+1 212 801 7181ryan.cleary
International Mgt Liability Underwriter
Focus Group Leader International Management Liability
+44207 674 7775catherina.maccabe
Underwriter - International Management Liability
Underwriter - Management Liability
+44 (0)20 7674 7791carl.puttock