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.
- In relation to the company, global Dutch securities settlement advice.
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).
Public offering of securities team
Claims Team Leader - 1st Party Portfolio, Healthcare and General
New York, NY, USA
+1 212 801 7181ryan.cleary
Specialty Lines International Claims Team Leader
+44 207 674 7294tracy.holm
International Mgt Liability Underwriter
International ML Focus Group Head
+44207 674 7775catherina.maccabe
Underwriter - International Management Liability
Underwriter - Management Liability
+44 (0)20 7674 7791carl.puttock