PHILADELPHIA, PA., May 28, 2014 (GLOBE NEWSWIRE) -- Beazley, the pioneer in breach response insurance, today announced the addition of credit monitoring services for residents of Canada. The expanded coverage is part of significant new enhancements to the company's flagship product, Beazley Breach Response (BBR).
Beazley will partner with Equifax, a global information solutions provider, to offer credit monitoring to Canadian residents through Equifax Complete™ Advantage Plan and Equifax Credit File ID Alert™. The updates, which come standard at no additional cost on all future BBR policies, will further improve Beazley insureds' ability to respond to breach incidents and to be protected against any resulting liability.
Significant business is conducted across the Canadian-American border physically and electronically every single day. Approximately $1.6 billion a day in goods is traded between the U.S. and Canada and about 300,000 people cross between the countries every day by all modes of transport.
"Data breaches don't just affect businesses where they are physically located, they have an impact anywhere their customers reside," said Katherine Keefe, Head of BBR Services, the dedicated business unit established by Beazley to help clients handle data breaches successfully. "As businesses expand their services to Canada and beyond, it is vital that they and their customers maintain the same protections afforded in the United States."
A wide range of companies, including those in the retail and hospitality industries, have Canadian customers and they assume responsibility for those customers' data. This new enhancement to BBR provides increases coverage and breach response capabilities for these companies.
It is estimated that one in three goods crosses national borders and that more than one-third of all financial investments include international transactions. Experts predict that the flow of goods across international borders could triple in the next decade.
"We are happy to partner with Beazley to expand the credit monitoring and data protection options for companies and consumers that previously would have been without recourse," John Russo, VP, Legal Counsel and Chief Privacy Officer, Equifax Canada. "The threat of data and identity theft extends across international borders, and this service will allow companies to maximize their response when handling a breach."