Beazley Announces Enhancements to Industry Leading Breach Response Services
Updates improve coverage and scope of data breach insurance
SAN FRANCISCO, April 16, 2014 (GLOBE NEWSWIRE) -- Beazley, the pioneer in
breach response insurance, today announced significant new enhancements to the
company's flagship product, Beazley Breach Response (BBR). The enhancements,
which will come standard on all future BBR policies, include expanded privacy
breach response services and broader coverage. The updates will further
improve Beazley insureds' ability to respond to breach incidents and to be
protected against any resulting liability.
"The risk of a data breach grows larger every day, and at Beazley that means
we must continue to pursue new and innovative solutions to insure our clients
against every type and scale of data loss," said Mike Donovan, Global Leader
of Beazley's Technology, Media, and Business Services team. "With this update,
Beazley's coverage is adapting to the ever-changing cyber landscape to offer a
more refined, streamlined and ultimately more effective policy to our
Beazley is broadening the selection of US and international services
providers. Canadian and other non-U.S. residents will now be eligible to
receive privacy breach response services, which will allow companies to reach
an expanded base of customers in the event of a breach incident.
The selection of credit monitoring products available for use in response to a
covered breach incident has also been expanded. New credit monitoring options
include Equifax Complete™ for residents of Canada and Experian's ProtectMyID
for residents of the United Kingdom. Beazley will also partner with
ConsumerInfo.com, an Experian company, to offer a service for individuals with
limited or no Experian credit history that monitors for the creation of an
Experian credit file.
The new policy also includes an Information Security Incident Response Guide,
developed in partnership with Navigant (NYSCE:NCI), a leader in complex data
management and forensics analysis, to equip insureds with a roadmap to prepare
for and manage the aftermath of a data security breach.
Public relations and crisis management expenses are also now included as
privacy breach response services, and Beazley has expanded the available limit
of coverage available for the provision of computer expert services, legal
services and public relations and crisis management expenses up to $2.5
"Beazley is committed to evolving our product and providing the best risk
mitigation coverage to those we insure," said Donovan. "We believe these
enhancements improve vital components of our existing policy, such as
broadening notification services to include non-US residents, as well as
enabling us to expand credit monitoring and data protection coverage to meet
our clients' changing needs."
Note to editors:
Beazley, a leading specialist insurer, pioneered data breach response
insurance, launching Beazley Breach Response (BBR) in 2009. BBR is a unique
insurance, loss control and risk mitigation service that notifies and protects
the customers of policyholders that have suffered a data breach. Coverage
includes forensic and legal assistance, notification costs, credit monitoring
services for each person notified, loss prevention services and identity
theft-related fraud resolution services.
Beazley plc (BEZ.L), is the parent company of specialist insurance businesses
with operations in Europe, the US, Asia and Australia. Beazley manages five
Lloyd's syndicates and, in 2013, underwrote gross premiums worldwide of
$1,970.2 million. All Lloyd's syndicates are rated A by A.M. Best.
Beazley's underwriters in the United States focus on writing a range of
specialist insurance products. In the admitted market, coverage is provided by
Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all
50 states. In the surplus lines market, coverage is provided by the Beazley
syndicates at Lloyd's.
Beazley is a market leader in many of its chosen lines, which include
professional indemnity, property, marine, reinsurance, accident and life, and
political risks and contingency business.
For more information please go to: www.beazley.com.
CONTACT: Mike Donovan
415 263 4050
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