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Member, Beacon International Group, Ltd.
FARMINGTON, Conn.—Beazley P.L.C. has announced the launch of a data breach protection service for smaller firms.
Targeted toward companies with less than $10 million in revenue, Beazley Breach Response Select is similar to the insurer’s existing product for larger companies. Forensic, legal, notification, credit monitoring, public relations and call center services are included.
According to a company statement, the policy is based on the number of individuals affected by the breach—normally between 25,000 to 250,000—instead of a fixed dollar amount. Third-party liability also is available up to $5 million.
“Small businesses are at least as vulnerable to data breaches as their larger counterparts,” said Jamie Orye, the Philadelphia-based head of Beazley’s private enterprise underwriting team, in a statement. “Indeed, in many cases they may be more vulnerable, as they cannot afford the latest technological weaponry to keep ahead of hacking and malware threats.”
For more information, contact Mr. Orye at 215-446-8450.