New York, Sept. 27, 2017 (GLOBE NEWSWIRE) -- Specialist insurer Beazley, a pioneer in data breach response insurance, has partnered with Generali, one of the world’s leading insurers, to manage data breaches for Generali Brazil’s new cyber insurance offering for its corporate and commercial clients.
Beazley will coordinate the breach response for policyholders, including IT experts, legal services, identity monitoring, notification and call centre services, and public relations.
The partnership allows Generali, through Generali Global Corporate & Commercial Brazil, to offer the Brazilian market a comprehensive cyber liability and data breach response product.
"Cyber insurance is an area that has not been fully developed in Brazil. This offering fills a void created by new and emerging risks like cyber-risks, including ransomware. It is a market with strong interest and potential and we are confident that this new product will be a success. Our goal is to help our clients succeed in business, by adding value beyond the policy and being flexible, agile and adaptable”, said Werner Stettler, Director of Generali Global Corporate & Commercial Brazil.
Paul Bantick, technology, media and business services focus group leader at Beazley, said: “We’re excited to partner with Generali GC&C Brazil and bring our cyber and data breach response insurance to the Brazilian market. Companies in Brazil will now have access to a complete privacy breach response management and information security insurance solution. Generali GC&C Brazil clients will benefit from Beazley’s data breach response services and our extensive expertise in managing and mitigating the impacts of data breaches for clients globally.”
Beazley has helped clients handle more than 6,500 data breaches since the launch of its flagship product, Beazley Breach Response, in 2009.
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Note to editors:
Beazley plc (BEZ) is the parent company of specialist insurance businesses with operations
in Europe, the US, Canada, Latin America, Asia, the Middle East and Australia. Beazley manages six Lloyd’s syndicates and, in 2016, underwrote gross premiums worldwide of $2,195.6 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.
About Generali
Generali is an independent, Italian Group, with a strong international presence. Established in 1831, it is among the world’s leading insurers and it is present in over 60 countries with total premium income exceeding €70 billion in 2016. With over 74,000 employees in the world, and 55 million clients, the Group has a leading position in Western Europe and an increasingly significant presence in the markets of Central and Eastern Europe and in Asia. In 2017 Generali Group was included among the most sustainable companies in the world by the Corporate Knights ranking.
About Generali Global Corporate & Commercial (GC&C)
GC&C is the Generali Group unit that develops the P&C business and insurance services for medium and large companies. Generali Global Corporate & Commercial acts on a global scale and deploys an integrated approach at Group level with a central management team and specialized teams active in individual countries. GC&C draws on a worldwide network of professionals to offer a seamless approach towards global risks and deliver what matters to clients. With a client-centric approach, GC&C provides a full range of property, casualty and specialty lines protection to corporate and commercial clients and their brokers worldwide.
Today more than 1,000 professionals work in the nine main offices of GC&C in Milan, London, Madrid, Paris, Prague, Sao Paolo, Hong Kong, New York and Munich. GC&C serves clients and brokers in more than 100 countries, generating an overall Gross Written Premium (GWP) of approximately € 2.0bln.