Beazley’s Teck Siong Ng joins cyber & technology team
Specialist insurer Beazley has appointed Teck Siong Ng as its first dedicated Singapore-based cyber & technology underwriter to focus on risks across Asia Pacific.
Teck Siong joined Beazley in 2015 as a specialty lines underwriter, covering a range of risks including professional indemnity, directors & officers liability, healthcare, commercial crime and cyber. He also managed business development across Beazley’s specialty lines in the region.
Prior to joining Beazley, Teck Siong spent 10 years in underwriting roles, most recently as business development team leader for southeast Asia and India within the casualty & financial lines facultative team at Asia Capital Re.
In addition, Beazley recently launched a new information & security (InfoSec) policy form for cyber clients in Asia Pacific. The policy form has been streamlined and is in line with the company’s commitment to providing simpler, user-friendly policies. First-party covers, such as cyber extortion, data recovery costs, business interruption and contingent business interruption, are now integrated into the main policy form rather than being added by endorsement, making cover clearer to understand for brokers and clients.
Beazley’s InfoSec insurance also covers policyholders for fees and costs for legal and forensic services, notification services, call centre services, credit monitoring, identity monitoring or other personal fraud or loss prevention solutions, and public relations and crisis management if a data breach occurs.
Alessandro Lezzi, Beazley’s head of international cyber & tech, said: “With cyber enquiries from brokers and clients into our Asia Pacific operation increasing at a faster rate, we are very pleased to appoint Teck Siong as our first dedicated cyber & tech underwriter. He brings experience in this area and a great understanding of the Asia Pacific market. This supports our commitment to delivering innovative risk-transfer solutions to our clients in the region.”
He added: “Businesses are playing catch-up with cyber criminals and they need to have the most comprehensive cover in place to protect their businesses. Our enhanced Infosec policy provides industry-leading coverages for emerging data security and privacy exposures facing companies today.”
Lucien Mounier, Beazley’s regional head of Asia Pacific, said: “In his new role Teck Siong brings added focus to our ambitions to build out our cyber offering as we expand our regional footprint. This is another well-deserved promotion at a time when we are actively developing and recruiting talent into our team across multiple lines of business.”