Beazley expands protection against cyber risks through post-breach consultation and remediation services

New York, New York, Jan. 23, 2018 -- Specialist insurer Beazley has announced further enhancements to its Beazley Breach Response (BBR) coverage for small and mid-sized policyholders in the US.  In conjunction with Lodestone Security, a specialist advisory firm and wholly owned subsidiary of Beazley, BBR policyholders can now benefit from up to 100 hours post-breach consultation and remediation services.

This expanded service, available by endorsement, is designed to ensure that policyholders who have suffered unauthorized access or use of their systems are able to resume operations at optimal levels of security to prevent a breach re-occurring. 

The service includes an assessment of external and internal vulnerabilities, recommendations for improvement across networks, application servers and databases, and for putting in place the right people and processes.  It also includes consultation services to help improve or implement incident response plans and other critical policies and procedures.

Mike Donovan, technology, media & business services global focus group leader at Beazley, said: “Any business will sooner or later be confronted with the challenge of a cyber breach.  And we know that once cyber criminals detect and exploit an organization’s vulnerabilities, they will come back again and again.  Our post breach consultation and remediation services are designed to help our policyholders access Lodestone’s specialist know-how and minimize the chances of lightning striking twice.” 

Sergio Pedro, chief executive officer of Lodestone added: “Small and medium-sized businesses are increasingly vulnerable to cyber attacks. As these become ever more sophisticated and harder to defend they can seriously compromise an organization’s ability to trade and can result in significant remediation costs.  For Beazley’s policyholders, when the worst does happen, our new service means they can access dedicated consultancy and remediation services that are normally only within the reach of Fortune 500 organizations.”

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Note to editors:

Beazley plc 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. Certain Lodestone services may not be available on an admitted basis at this time. 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.

Lodestone Security is a wholly-owned subsidiary of Beazley plc. Lodestone provides computer security and cyber security 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.

For more information please go to: www.beazley.com

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Eleanor Lewis
Beazley Group
+44 (0)20 7667 0538
[email protected]

Deborah Kostroun
Ketchum
+1 201 403 8185
[email protected]