Beazley reinforces commitment to pre-breach services

New York, July 07, 2017 (GLOBE NEWSWIRE) -- Beazley, a pioneer in data breach response insurance, was recognized as the 2017 Pre-Breach Team of the Year at the Advisen Cyber Risk Awards ceremony in New York on June 14th.  This is the fourth consecutive year Beazley Breach Response Services has been honored at the Advisen Cyber Risk Awards.

BBR Services, Beazley’s in-house data breach response team, coordinates the forensics, legal, customer notification, and identity monitoring services that are required to meet legal obligations and maintain customer confidence in the wake of a data breach.

In addition to assisting clients with over 6,000 data breaches, the team also developed Beazley’s client risk management services, including a dedicated client portal with educational and loss control information, and provides topical webinars, client workshops and other tools to help Beazley Breach Response insureds manage their cyber risks.    

With the increasing need for pre-breach and cyber-security services, Beazley has established Lodestone Security LLC to offer both strategic and tactical services and expertise to enhance the cyber defences of small and mid-sized firms.  These organizations are targeted as frequently as major corporations, but lack access to the internal expertise and resources that large businesses can draw upon.

“While there is much greater awareness around the increase in security-related incidents, many companies are challenged by the daily demands of their business and limited resources,” says Sergio Pedro, Lodestone’s CEO. “Beazley saw a need in the marketplace that Lodestone could address.”

Mike Donovan, global technology, media & business services focus group leader at Beazley, added: “Since the launch of Beazley Breach Response in 2009 we have been committed to helping our insureds successfully manage data breaches and provide risk management services to help mitigate their risk. Breaches are inevitable and we believe businesses need to take additional measures to prepare themselves.”  



Note to editors:

Lodestone Security, LLC is a wholly owned subsidiary of Beazley plc.  Lodestone provides computer security and cyber security consulting services. Lodestone does not provide insurance services and client information obtained by Lodestone is not shared with Beazley claims or underwriting.  Likewise, client information obtained by Beazley claims or underwriting is not shared with Lodestone.

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.

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