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    Bob Wice

    Bob Wice

    TMB US Focus Group Leader

    Effective data breach protection for retailers.

    As thousands of retailers, large and small, have learned to their cost, a data breach is not a question of "if". The only question is "when?"

    Information exposures are difficult to control and are subject to many different types of loss events. And even with the best systems, controls and personnel, no retailer is immune to the risk. It only takes one small human error, a simple property crime, or one clever hacker, to compromise millions of customer records.

    Retail Insights

    257.5 million

    personal records compromised in retail between 2005 and 2015 (www.privacyrights.org)

    $111

    of records breached in 2014 were attributed to retail data breaches (www.privacyrights.org)

    55 percent

    of all retail breaches managed by Beazley in 2015 were caused by hacking or malware

    Retailers are prime targets for cyber criminals looking to exploit vulnerabilities through point of sale systems. Once such a breach occurs, compulsory data breach notification laws will ensure that the public knows about the event, posing a significant risk to the retailer’s reputation and brand. A study conducted by the Economist Intelligence Unit in April 2013 found that 38% of respondents affected by a data breach no longer did business with the organization concerned “because of the data breach,” and 46% said they had advised friends and family to be careful of sharing data with the organization.

    Commerce without credit and debit card payments is unimaginable. Whether at the point-of-sale, online, or through a call center, the retail industry processes a staggering volume of credit card transactions. A breach of credit card information, which the card brands frequently detect before the organization even suspects any foul play, can result in fines, penalties, mandated computer forensic costs, legal fees, and worst of all, the inability to process payments.

    The publicity and customer dissatisfaction that surround a data breach have spurred a wave of class actions against retailers big and small. Enterprising plaintiffs’ lawyers relying on a variety of privacy laws have filed complaints seeking billions of dollars in damages. The risk of crippling damages, and the sizeable costs of litigation, often push organizations to settle even in the absence of any clear harm to the plaintiffs.

    State and federal regulators have made it clear that a significant breach of customer information will result in monetary penalties, onerous corrective action plans, and on-going audits. Whether from the Federal Trade Commission or state attorneys general, the regulatory landscape for retailers carries an immense amount of risk.

    In addition to covering your business, BBR also protects your partners though third party coverage.  Third party coverage includes:

    • Third party information security and privacy coverage with up to $15M in limits in addition to the breach response coverage
    • Regulatory defense and penalties
    • Website and offline media liability
    • PCI fines, penalties and assessments
    • Cyber extortion
    • First party business interruption and data protection with limits up to $15 million.

    Beazley, a leading insurer of technology and information security risks, has developed Beazley Breach Response (BBR), a solution to privacy breaches and information security exposures tailored to the needs of retailers. We pioneered the concept of data breach insurance that focuses first and foremost on response. BBR is a complete privacy breach response management and information security insurance solution which includes a range of services designed to help you respond to an actual or suspected data breach incident effectively, efficiently, and in compliance with the law.

    Quote image

    Not if, but when. Any retail business handling customer data will, sooner or later, be confronted with the challenge of a data breach. It's not a matter of "if" but "when".

    Retail team

    Underwriters

    Killian Brady

    Underwriter

    Killian Brady

    New York, NY, USA

    +1 646 943 5906

    Kristen Dauphinais

    Team Leader - Aggregated Initiatives

    Kristen Dauphinais

    Dallas, TX, USA

    Serene Davis

    Underwriter

    Serene Davis

    Los Angeles, CA, USA

    +1 213 228 7709

    Mike Donovan

    TMB Services & Crime Focus Groups Leader and Underwriter

    Mike Donovan

    San Francisco, CA, USA

    +1 415 263 4050

    Erica Ducharme

    Underwriter

    Erica Ducharme

    Farmington, CT, USA

    +1 860 677 3775

    Nick Economidis

    E&O Underwriter

    Nick Economidis

    Houston, TX, USA

    Christine Eveland

    Misc & Tech E&O Underwriter

    Christine Eveland

    San Francisco, CA, USA

    Joel Fehrman

    Underwriter

    Joel Fehrman

    Atlanta, GA, USA

    +1 770 351 1693

    Tim Gallagher

    Underwriter

    Tim Gallagher

    New York, NY, USA

    +1 917 344 3312

    Anna Kagan

    Underwriter - TMB

    Anna Kagan

    New York, NY, USA

    +1 646 943 5920

    Bala Larson

    E&O Underwriter

    Bala Larson

    San Francisco, CA, USA

    +1 415 263 4053

    Kevin McGowan

    TMB Underwriter

    Kevin McGowan

    Chicago, IL, USA

    +1 312-476-6212

    Myles Miller

    Underwriter

    Myles Miller

    Chicago, IL, USA

    +1 312 476 6268

    Jessica Murray

    TMB Underwriter

    Jessica Murray

    Chicago, IL, USA

    +1 312 476 6218

    Ryan O'Donohue

    Underwriter - TMB

    Ryan O'Donohue

    San Francisco, CA, USA

    +1 415 263 4080

    David Ogorzalek

    TMB Underwriter

    David Ogorzalek

    Farmington, CT, USA

    +1 860 674 3908

    Kaitlyn Pezik

    TMB Underwriter

    Kaitlyn Pezik

    New York, NY, USA

    +1 917 344 3316

    Charles Pruzinsky

    TMB Underwriter

    Charles Pruzinsky

    New York, NY, USA

    Czarina Rodriguez

    Underwriter

    Czarina Rodriguez

    San Francisco, CA, USA

    Kyle Sawdey

    Underwriter - TMB

    Kyle Sawdey

    Philadelphia, PA, USA

    +1 215 446 8427

    Desiree Spain

    Underwriter

    Desiree Spain

    Atlanta, GA, USA

    +1 770 351 1676

    Janice Stevenson

    Underwriter

    Janice Stevenson

    New York, NY, USA

    Laura True

    Underwriter

    Laura True

    Farmington, CT, USA

    +1 860 677 3772

    Greg Wagner

    Underwriter - TMB

    Greg Wagner

    Dallas, TX, USA

    +1 972 419 8028

    Bob Wice

    TMB US Focus Group Leader

    Bob Wice

    Farmington, CT, USA

    +1 860 677 3779

    Laura Wiggs

    Underwriter - Strategic Cyber Initiatives

    Laura Wiggs

    Farmington, CT, USA

    +1 860 674 3988

    Shannon Willison

    Underwriter - TMB

    Shannon Willison

    Los Angeles, CA, USA

    Claims

    Marcello Antonucci

    Claims Manager

    Marcello Antonucci

    New York, NY, USA

    Beth Diamond

    Head of Third Party Complex Claims

    Beth Diamond

    New York, NY, USA

    +1 646 943 5912

    Donna Hahn

    Claims Manager

    Donna Hahn

    New York, NY, USA

    +1 646 378 4022

    Kimberly Horn

    Claims Manager

    Kimberly Horn

    New York, NY, USA

    +1 646 378 4007

    Craig Linton

    Claims Manager

    Craig Linton

    New York, NY, USA

    +1 646 943 5905

    Michael Phillips

    Claims Manager

    Michael Phillips

    New York, NY, USA

    Dakai Pouncey

    Assistant Claims Manager

    Dakai Pouncey

    New York, NY, USA

    +1 917 344 3301

    Breach Response Services

    Brett Anderson

    Privacy Breach Response Services Manager

    Brett Anderson

    Atlanta, GA, USA

    +1 770 351 1704

    Katherine Keefe

    Privacy Breach Response FGL

    Katherine Keefe

    Philadelphia, PA, USA

    +1 215 446 8421

    Frank Quinn

    TMB BBR Risk Manager

    Frank Quinn

    New York, NY, USA

    1-917-344-3354

    Alex Ricardo

    Business Development Manager

    Alex Ricardo

    New York, NY, USA

    +1 917 344 3311

    Pavel Sternberg

    Privacy Breach Response Services Manager

    Pavel Sternberg

    San Francisco, CA, USA

    +1 415 263 4082

    Lauren Winchester

    Privacy Breach Response Services Manager

    Lauren Winchester

    Philadelphia, PA, USA

    Sue Yi

    Privacy Breach Response Services Manager

    Sue Yi

    Philadelphia, PA, USA

    +1 215 446 8455

    Retail forms

    Application forms

    BBR application form
    BBR renewal application form

    Fact sheets

    BBR Brochure
    BBR Services
    BBR first party computer claims
    BBR After the Breach
    BBR Coverage
    BBR Timeline
    BBR Data Breach
    BBR Risk Management
    BBR Retailers
    BBR Ransomware

    Risk insights

    Beazley Breach Alert - Ransomware: Overview, Prevention and Response Best Practices
    Case of the 1.7 million laptop
    Breach Insight March 2016
    Breach Insight October 2016
    Breach Insight July 2016
    Breach Insight October 2016 - Class action settlements