New York, June 14, 2018 (GLOBE NEWSWIRE) — Beazley has more than a decade of experience underwriting cyber risks, underwriting its first InfoSec policy in 2006. In the early years, the main concern of policyholders was third party exposure deriving from the loss of personal customer data. More recently, attacks that disable a company’s systems – often accompanied by an extortion demand – have emerged as a major threat, especially for manufacturers, utilities and industrial companies.
The new Beazley InfoSec policy offers comprehensive coverage for these first party risks, including:
- Cyber extortion
- Data recovery costs
- Business interruption costs arising from security breaches and related system failures
- Contingent business interruption costs arising from security breaches and related system failures occurring at the policyholder’s vendors or suppliers
- Scams involving criminals impersonating trusted individuals or entities who direct funds to be wired to their own bank accounts.
The policy also includes access to Beazley’s dedicated in-house breach response unit, Beazley Breach Response Services (BBR Services), which has helped clients handle thousands of breaches…
