Beazley updates cyber policy
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Beazley P.L.C. said Thursday it is offering an updated version of its Beazley InfoSec cyber policy.
The insurer said in a statement that the updated policy offers comprehensive coverage for first-party risks including: cyber extortion; data recovery costs; business interruption costs arising from security breaches and related systems failures; contingent business interruption costs arising from security breaches and related system failures occurring at the policyholder’s vendors or suppliers; and scams involving criminals impersonating trusted individuals or entities who direct funds to be wired to their own bank accounts.
These coverages had previously been offered by endorsement but are now in the base policy, according to a spokeswoman.
Beazley said in its statement the policy also includes access to Beazley’s dedicated in-house breach unit, Beazley Breach Response Services, which provides extensive risk management services.
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