Beazley introduces new version of cyber policy
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Beazley P.L.C. is introducing a new version of its Beazley Breach Response cyber policy for small and midsize businesses that includes business interruption coverage, the insurer said Tuesday.
London-based Beazley said the streamlined 22-page policy includes:
• A full suite of breach response services to identify the cause and scale of data breaches, alert the affected individuals and provide credit and identity monitoring
• First-party coverage for cyber extortion
• Data recovery costs
• Business interruption from security breaches and system failures
• Contingent business interruption from security breaches and system failures that occur at the policyholder’s vendors and suppliers
• E-crime coverage for fraudulent instruction, funds transfer and telephone fraud.
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