Beazley has enhanced its cyber, as well as its media & technology insurance offering for businesses in Canada.
The company’s Beazley Breach Response (BBR) policy has been streamlined. Specifically, Beazley has integrated cyber extortion, business interruption (BI), dependent business interruption and eCrime coverages into the main BBR policy instead of being added by endorsement.
Beazley’s MediaTech offering, which provides E&O insurance to cover tech-based services and products among other things, has also been enhanced. The policy now has cyber coverage incorporated into it, and it now covers breach response costs, first and third-party coverage, as well as eCrime.
MediaTech policyholders will also be given access to the same cyber response resources made available to BBR policyholders. These resources include incident response planning, employee training, compliance, and security best practices – which can all be accessed via BBR Services’ global risk management website.
“To support Canadian businesses during today’s environment of heightened cyber and security risks and increasing litigiousness, Beazley’s BBR and MediaTech policies are designed to provide 360 degree protection through streamlined, easy to interpret wordings,” said Beazley head of international cyber & tech Alessandro Lezzi.
Lezzi added that the increasingly complex risk landscape requires insurance coverage with clear wording that will protect businesses on multiple fronts, backed by great service and responsiveness in the event of a breach incident.
“Canadian businesses face a growing cyber threat that is always evolving as we have seen during this pandemic,” commented Beazley cyber & tech underwriter and Vancouver head Rhea Turchinetz. “More of us logging on to work IT networks remotely has created additional security issues that employers and their workforce need to be alert to. BBR and MediaTech are designed to help companies to build their resilience against these threats, as well as provide protection and financial support in the event of a claim.”
