Beazley Breach ResponseBeautifully designed cyber protection for small and medium-sized businesses.

Breaches reported to Beazley in 2018

36%Small and

medium-sized businesses

Ransomware incidents

71%Small and

medium-sized businesses

Fraudulent instruction

56%Small and

medium-sized businesses

Business email compromise

41%Small and

medium-sized businesses

Small and medium-sized businesses at risk

Not if, but when.In the last decade the cyber threat landscape has changed. While the loss or disclosure of personal or sensitive data used to be a company’s primary concern, businesses are increasingly facing threats to their ability to conduct normal operations. Business interruption, cyber extortion, loss of critical operational data and electronic crime present cumulative risks that businesses must address.

What is cyber liability?

Cyberliabilityfocusesonemergingrisksarisingfrominformationtechnologythatareoutsidethescopeoftraditionalinsurancepolicies.Cyberpoliciestypicallyprovidetwobroadtypesofcoverage: legalliabilityandbreachresponsecosts.

Isn’t this already covered?

Traditionalinsuranceisgenerallyfocusedonissuesofphysicaldamageandbodilyharm.Acyberpolicydealswithlegalobligationsandliabilitiesassociatedwithaloss,theftorunauthorizeddisclosureofconfidentialinformationandalsocoversalossofincomeandextrabusinessexpensesthatresultfromsecuritybreachesandsystemfailures.

Why do small businesses need cyber liability?

Smallandmedium-sizedbusinesses(SMBs)tendtospendlessoninformationsecurityandaremorevulnerable.Onceattacked,theyhavelimitedresourcestocoordinatetheservicesneededtomanageanincident.SMBsalsodonotbelievetheyareatarget,wheninfact58%ofcyberattackvictimsweresmallbusinessesaccordingtothe2018VerizonDataBreachInvestigationsReport.

Why Beazley?

Beazleypioneeredtheconceptofdatabreachresponseandcyberinsuranceandisuniqueamonginsurersinhavingadedicatedbusinessunit,BBRServices,thatfocusesexclusivelyonhelpingclientsmanagecyberincidents.Since2009wehavehelpedovertenthousandclientsmanagebreachesswiftlyandsuccessfully.

What else is covered?

Othercoverageinacyberliabilitypolicyincludesmedialiability, cyberextortion,dataprotection,crime&socialengineering.Italsocoverscontingentbusinessinterruptionforattacksonsuppliersresulting fromsecuritybreachesandsystemfailures.

WithBeazley’s360°approach,companieshaveaccesstoacomprehensive setofservices,productsandsolutions,whicharebeautifullyjoinedtogether, toprotecttheirbusinessfromthedangerousworldofcyberrisks.

Pre-breachservices Allpolicyholdershaveaccesstoanonlineon-boardingvideo,IRPtemplates,interactiveonlinetraining,SCORM-complianttrainingmoduleanddiscountedanti-phishingservices

Coverage Breachresponse,firstparty,liabilitycoverageandeCrime

BBRServices Adedicatedin-houseBreachResponseServices unitthathasmanagedthousandsofbreaches forcompaniesacrossavarietyofindustries

Lodestone ProvidescybersecurityconsultingservicestailoredtotheSMBmarket.Lodestonedeliversahighlevelofexpertiseandresultswithoutbigfirmpricing

Claims TheBeazleydifference–ourclaimsteamiscollaborative,experienced,accessible,pragmatic,flexibleandconsistent

Riskmanagement Withourin-houseriskmanagementportal,beazleybreachsolutions.com,policyholdershaveaccesstotoolsandresourcestoincreaseresiliency,understand thethreatlandscape,trainemployeesandcomply withlawsandregulations

Brokersupport Adedicatedwebsiteoncyberrisksandkeyissuestoinformandeducate:cyber.beazley.com

BBR offers more coverage per dollar of premiumAll of the policy’s multiple limits will be available if required for breach response which, together with access to assistance from Beazley’s dedicated BBR Services team, offers insureds an unprecedented level of coverage and expertise. These extra limits are beyond what other policies provide, and along with access to Beazley’s dedicate Breach Response Services team, help make BBR stand out.

Privacy breach response services (Part 2)

•Notificationservicesprovidedona numberofaffectedindividualsbasis, notcappedbyadollaramount

•Callcenterservicesfornotified individuals

•Breachresolutionandmitigation servicesincludingoneandthree bureaumonitoringandidentity monitoringsolutions.

Privacy breach response services (Part 1)

•Computerexpertservicesandlegal servicestohelpdeterminethe extentofthebreachandthesteps neededtocomplywithapplicable breachnoticelaws

•Crisismanagementandpublic relations

•Accesstoeducationalandloss controlinformationatnocharge.

Policy aggregate limit of liability

•Thirdpartyinformationsecurity andprivacycoverage

•Regulatorydefenseandpenalties

•Websiteandofflinemedialiability

•PCIfines,penaltiesandassessments

•Firstpartycoverage

The following sublimits are available for eligible classes:

• Hardwarereplacement(bricking)-$100,000• Invoicemanipulation-$100,000byendorsement

• Dependentsystemfailure-$100,000• Dependentbusinessloss-$100,000

• Cryptojacking-$100,000• Contingentbodilyinjury-$250,000• Consequentialreputationalloss-$1,000,000

• Fraudulentinstruction-upto$250,000• Fundstransfer-$250,000• Telephonefraud-$250,000

Beazley Group30BattersonParkRoadFarmington,CT06032USAT+1(860)6773700F+1(860)6790247

beautifullydesignedinsurance

Visituswww.beazley.com

Followuslinkedin.com/showcase/beazley-cyber twitter.com/breachsolutionsThedescriptionscontainedinthiscommunicationareforpreliminaryinformationalpurposesonly.TheproductisavailableonanadmittedbasisinsomebutnotallUSjurisdictionsthroughBeazleyInsuranceCompany,Inc.,andisavailableonasurpluslinesbasisthroughlicensedsurpluslinesbrokersunderwrittenbyBeazleysyndicatesatLloyd’s.Theexactcoverageaffordedbytheproductdescribedhereinissubjecttoandgovernedbythetermsandconditionsofeachpolicy issued.Thepublicationanddeliveryoftheinformationcontainedhereinarenotintendedasasolicitationforthepurchaseof insuranceonanyUSrisk.BeazleyUSAServices,Inc. is licensedandregulatedbyinsuranceregulatoryauthorities in the respectivestatesof theUSand transactsbusiness in theStateofCaliforniaasBeazley InsuranceServices(License#:0G55497).

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