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.

Limits

Up to US$25m

Target market

A wide range of non-financial organisations can benefit from the cover.

Territories

Worldwide (excluding United States domiciled organisations).