Beazley expands cyber offering in Germany

Beazley is to offer its Beazley Breach Response and InfoSec cyber policies to businesses domiciled in Germany.

The BBR policy provides a complete privacy breach response management and information security insurance solution for small to medium-sized businesses. It includes breach response services in addition to first-party coverage for BI, dependent BI, cyber extortion and data recovery costs as well as eCrime, which covers the insured for fraudulent instruction, funds transfer and telephone fraud.

InfoSec gives large businesses access to comprehensive first-party cover for cyber risks including cyber extortion, data recovery costs, BI and dependent BI arising from security breaches and system failures and eCrime. It also includes third-party cover for claims arising out of a cyber breach. In the event of a cyber incident, the Beazley InfoSec policy will also cover costs for legal and forensic services, notification services, call centre services, credit monitoring, identity monitoring or other personal fraud or loss prevention solutions, and public relations and crisis management.

The launch follows the appointment in February of Gesine Froese (pictured), the insurer's first dedicated cyber and technology underwriter in Germany, as part of the expansion of Beazley’s offering in mainland Europe.

Alessandro Lezzi, head of international cyber and tech at Beazley, said: “The Beazley cyber offerings are designed to provide 360° protection through streamlined, easy-to-interpret wordings and a service that goes far beyond simple risk transfer. The increasingly complex risk landscape requires clear insurance cover that will protect businesses on many fronts and support them with great service and response should they experience a loss, whether from ransomware or any other cyber loss. We’re very pleased to now be launching these enhanced policy forms for BBR and InfoSec in Germany.”

    Share Story:


Cyber risk in the transportation industry
The connected nature of the transport and logistics industries makes them an attractive target for hackers, with potentially disruptive and costly consequences. Between June 2020 and June 2021, the transportation industry saw an 186% increase in weekly ransomware attacks. At the same time, regulations and cyber security standards are lacking – creating weak postures across the board. This podcast explores the key risks. Published April 2022.

Political risk: A fresh perspective
CIR’s editor, Deborah Ritchie speaks with head of PCS at Verisk, Tom Johansmeyer about the confluence of political, nat cat and pandemic risks in a world that is becoming an increasingly risky place in which to do business. Published February 2022.