Data breach insurance
Introducing Beazley Breach Response
A data breach isn't always a disaster. Mishandling it is. Any business handling customer data will, sooner or later, be confronted with the challenge of a data breach. It's not a matter of "if" but "when."
The incidence of data breaches is massive. In US healthcare alone (the industry for which the most reliable statistics exist), more than 120,000 people are being notified that their data has been breached every week. Healthcare providers and tens of thousands of other businesses have learned the hard way that there's no such thing as perfect cyber security.
And the stakes are high. You hold personal data on trust for your customers. If they don't think your business can be trusted, the very future of your company is at risk. A data breach is not a learning opportunity - you have too much to lose to risk mishandling it.
It's your reputation that's on the line.
In a breach, you want to make the calls. It's your reputation that's on the line. But it's also smart to have an Insurance partner who's been there before. Things happen too quickly; there's too much to learn - and that's why we turn to Beazley.
Beazley pioneered the concept of data breach insurance that focuses first and foremost on response. They supply the IT experts and specialised lawyers to help you establish what's been compromised; assess your responsibility; and notify those you have to. They provide credit or identity monitoring for your customers and PR advice to help you safeguard your reputation. They also, of course, indemnify your losses from lawsuits or regulatory actions. But the good news is, if your response is sound, no liabilities may follow.
Beazley invented this approach and do more of it than anybody else. To date they have helped more than 1,000 clients manage data breaches swiftly and successfully. They can't guarantee your cyber security: no one can. But they can put you in control of your response. For more information, see Ten Reasons to Buy Cyber Insurance.
Please contact us for a tailored no obligation quotation.