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International

Beazley not expected to be affected by rise in ransomware trends

June 08, 2023 Reprints

Paul Bantick, global head of cyber and technology at U.K.-based Beazley PLC, said that while ransomware attacks are on the rise, the insurer’s portfolio is not expected to be affected as claims frequency is largely in line with the insurer’s expectations, Reinsurance News reported. Mr. Bantick added that as a result the company’s growth and profits should not be negatively affected by its cyber insurance book.

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Beazley not expected to be affected by rise in ransomware trends

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